Except for the Northeast, most regions see flat prices and moderate temperatures. Natural gas prices were flat at most trading locations for the report week (Wednesday to Wednesday). The Henry Hub spot price began the report week at $2.79/MMBtu, dipped to $2.66 on Monday, and finished the week at $2.77/MMBtu. Many price points throughout the country are 30¢-50¢ below Henry Hub; Malin in southern Oregon closed the week at $2.51/MMBtu; Opal in Wyoming closed at $2.45/MMBtu; and Cheyenne in eastern Colorado also closed at $2.45/MMBtu. Notably, spot prices at Henry, Chicago, and New York City have been about the same, typical of an unstressed market.

Boston spot price increases Tuesday with cold weather. At the Algonquin Citygate, which serves Boston, prices averaged $4.97/MMBtu last Wednesday, then rose to $12.16/MMBtu on the following Tuesday because of a late-season cold snap. The price point ended the week at $11.91/MMBtu. Notably, however, the National Weather Service has advised that weather is worsening, saying that "By late Thursday (today) into Friday, wintry precipitation is possible in the northern Mid-Atlantic and New England."

Marcellus-area prices remain low. Prices at several trading locations in the Marcellus area increased slightly this week, but remain about $1 to $1.50 below the Henry Hub price. Leidy hub in central Pennsylvania began at $1.40/MMBtu last Wednesday, declined to $1.25/MMBtu on Friday, and closed at $1.54/MMBtu yesterday. Nymex prices flat. At the Nymex, the near-month April contract increased this week from $2.824/MMBtu last Wednesday to $2.920/MMBtu yesterday. The increase came on Tuesday and yesterday. The 12-month strip, which averages the April 2015 to March 2016 Nymex contracts, similarly increased, rising from $2.952/MMBtu at the beginning of the week to $3.033/MMBtu yesterday.

Production year-over-year rises nearly 9%. Gross natural gas production (which includes oil-like constituents) and dry gas production are up 8.8% and 8.7%, respectively, compared with last year at this time. Over the past week, total natural gas supply increased 0.5%. With moderate near-spring temperatures for most of the report period, imports from Canada saw a net decline of 1.4%. Sendout of regasified LNG from port terminals also declined from last week. The net increase in supply was driven by production, which increased by 0.8% in the past week.

Consumption declines as shoulder season begins. Gas consumption has fallen in all sectors this report week, led by the residential/commercial sector. Total domestic consumption fell 16.9% week-over-week, and is now nearly 11% lower than this week last year. Residential/commercial consumption fell by nearly one third, or 31.1%. Industrial consumption declined 4.7%, and consumption of gas for electric power generation (power burn) fell 4.4%. Power burn decreased in most regions, falling 20.3% in Texas and 19.0% in the Midcontinent. Notably, it increased 21.1% in the Southwest.