Cash basis at Waha is trading near historic highs this month as production weakness in the Permian Basin and strong demand from neighboring markets tighten the supply balance in West Texas. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Month to date, Waha’s discount to Henry Hub has averaged just 18 cents. On April 21, the West Texas hub was trading near $2.50/MMBtu, narrowing its spread to the US benchmark to 15 cents, data from S&P Global Platts and the Intercontinental Exchange showed. After hitting record-high price premiums during the February production freeze, Waha’s cash market quickly returned to discounted territory in March amid milder weather and weak demand. Over the past two weeks, though, cash basis there has […]