Mixed Signals: M-U Forward Prices Stagnant as Cash Prices Rise

We're seeing mixed signals for the price of natural gas in the Marcellus/Utica and where it may be heading in the near future. One set of signals is the day-ahead cash price ("spot price")--the deals to sell physically-delivered natural gas at a certain price at a particular hub/location. The spot price for M-U gas at hubs like the Eastern Gas South (widely viewed as the benchmark in the M-U region), is up. But the forward price is, if anything, down a bit.

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