US spot monthly natural gas prices for March increased by 57 cents, or 17% on average, to $3.92/MMBtu, compared with the previous month's $3.35/MMBtu average, Inside FERC's Gas Market Report said Monday.
The NYMEX April gas futures contract expired at $3.976/MMBtu, up 54.9 cents, or 16%, from the March contract's final close of $3.427/MMBtu.
Most price points with reported deals rose compared with the month before.
But the Northeast region was mixed, as some points shed winter premiums while others followed the NYMEX uptick. Transcontinental Gas Pipe Line zone 6-New York fell 55 cents, or 11.5%, to $4.23/MMBtu, while the non-New York zone rose 46 cents, or 12.4%, to $4.16/MMBtu.
Meanwhile, the volatile New England region plunged sharply, with the Algonquin Gas Transmission city-gates falling $3.45 to $5.26/MMBtu, while Tennessee Gas Pipeline zone 6 fell $3.39 to $5.18/MMBtu.
Along the Gulf Coast, Henry Hub increased by 55 cents, or 16%, to average $3.98/MMBtu, 0.4 cent above the final NYMEX close. Transco zone 3, meanwhile, rose 57 cents, or 16.5%, to $4.03/MMBtu.
In Texas, Houston Ship Channel and Katy each averaged $3.94/MMBtu, up 59 cents, or 17.6%, from the month before.
Chicago city-gates rose by 62 cents, or 17.5%, to average $4.17/MMBtu for April, while the Consumers Energy city-gate climbed 66 cents, or 18.5%, to $4.22/MMBtu.
Field zone deals at Panhandle Eastern Pipe Line rose by 59 cents for an April index of $3.81/MMBtu, while Northwest Pipeline Rocky Mountains also increased 59 cents, or about 18%, to $3.82/MMBtu.
California price points posted mixed gains, with Southern California Gas tacking on 67 cents, or 18.2%, to $4.15/MMBtu, while the Pacific Gas and Electric city-gate rose by 51 cents, or 13.75%, to $4.22/MMBtu.
Volumes for IFGMR's April survey rose to 17,376 million MMBtu/d from March bidweek volumes of 17,075 million MMBtu/d. Transactions used in the survey rose to 2,872 from 2,773 the month before.
