West Texas Gas Rises Above Zero for First Time in Four Months

Drillers in the world’s largest shale field on Monday were paid for the natural gas they produced for the first time in more than four months.

Prices for day-ahead delivery at the Waha Hub, a key indicator for gas prices in the Permian Basin, settled at 35 cents per million British thermal units. This is the first positive price since February, ending a record 131-day streak of gas prices sitting below zero.

Hot weather, an increase in pipeline capacity as some conduits concluded maintenance and signs of a recent expansion to a key pipeline contributed to the price increase. ...