Rocky Mountain Area Natural Gas Daily Price Review – May 2025

Brian Jeffries

The charts below depict the daily cash price for natural gas at Opal and at the Cheyenne Hub for each day in May 2025. Also shown are prices at some key locations downstream from Wyoming going to the west and going to the midcontinent region and the price for Waha, TX, which represents the Permian Basin. The average daily spot price in Southwest Wyoming at Opal and the average daily spot price in Southeast Wyoming and at the Cheyenne Hub were essentially identical. A widened spread between the Cheyenne Hub and the Mid-continent contributed to increased flows from the Cheyenne Hub to Mid-continent markets.

Because spot prices in the Permian Basin (often deeply negative) are so far below prices in the Rockies there are four versions of the typical monthly price charts. This was done to provide charts with and without Permian Basin prices represented in the charts. The wide difference between Permian Basin prices and the other depicted prices compresses the y-axis when Permian Basin prices appear on the same chart as Rockies Prices. That compression makes it harder to see differences between points in the Rockies.