SMCJB 

Prompt Screen is $1.62 Gas at Henry Hub for tomorrow is $1.53 Gas in West Texas (Waha) for tomorrow is $0.71 Gas in the Appalachians (Eastern Gas-South) for tomorrow is $1.20 So gas at wellhead still quite a bit below Screen & Henry.

Prompt Screen is $1.575 (-0.045)
Gas at Henry Hub for tomorrow is $1.50 (-0.03)
Gas in West Texas (Waha) for tomorrow is $0.41 (-0.30). OUCH! Hurts to be an unhedged producer in the permian!
Gas in the Appalachians (Eastern Gas-South) for tomorrow is $1.19 (-0.01)

Related topic if your interested in learning about gas generated power plants...

EIA IN-DEPTH ANALYSIS. FEBRUARY 22, 2024
Use of natural gas-fired generation differs in the United States by technology and region
https://www.eia.gov/todayinenergy/

ElChacal 

Not in front of computer but I did a graph and recall that Jan-Mar prices were usually low and would peak by June or August, although counter-intuitive. Also, gas is one of the few commodities that are near the prior COVID/Inflation prices even with the current higher rates (strengthening of the dollar).

Apologies, I plotted from 1997 until Feb-2024. Buy in March, sell in December

ElChacal 

Apologies, I plotted from 1997 until Feb-2024. Buy in March, sell in December

And here is the same plot adding min and max for each month since 1997. Market doesn't give away anything.

There was a lot of variability in the monthly maximums over the years.

Nat gas looks like a strong buy right now if we just focused on your chart data.

blackgrey45 

There was a lot of variability in the monthly maximums over the years. Nat gas looks like a strong buy right now if we just focused on your chart data.

It is close to record lows currently. And yes I would be wary about ever playing the short side even at normal 'year highs'.

I thought about the buying opportunity in natty gas right now. Contango may hurt prospects of a big homerun winning trade from the long side with contracts a year out trading about 50% higher than the front month.

blackgrey45 

I thought about the buying opportunity in natty gas right now. Contango may hurt prospects of a big homerun winning trade from the long side with contracts a year out trading about 50% higher than the front month.

I'm currently long the September 24 - January 25 calendar spread looking to profit from the contango. I'll likely upsize the position as the market looks like it front month prices will begin to strengthen.

ElChacal 

Buy in March, sell in December

Only if you have storage!