Markets Embrace Storage Result, May Natural Gas Futures Advance naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.
Pressure Eases on Natural Gas Prices, with May Futures Up After Storage Report
Natural gas futures prices rebounded Thursday as the government’s weekly inventory report proved bullish, and both weather forecasts and demand for U.S. exports remained favorable.
The May Nymex contract settled at $2.658/MMBtu, up 4.0 cents day/day. June gained 3.7 cents to $2.730.
NGI’s Spot Gas National Avg. rose 4.5 cents to $2.565, continuing a weeklong rally amid chilly conditions and seasonally strong heating demand in the eastern half of the country.
The prompt month ticked down by a tenth of a cent on Wednesday, ending a five-day winning streak. But a well-received U.S. Energy Information Administration (EIA) storage result for the week ended April 9 reopened the momentum door for futures.
Natural Gas Futures Forge Ahead, Lifted by Export Demand and Favorable Weather naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.
May Natural Gas Futures Climb Fourth Straight Day on Looming Cold Front
Cold front, strong LNG combine to lift natural gas futures again
Early estimates point to storage build in high 60s Bcf later this week
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Natural gas futures advanced for a fourth consecutive session on Monday as a bout of chilly spring weather was forecast to sweep across large swaths of the Lower 48, likely providing a boost for demand and cash prices.
The May Nymex contract settled at $2.561/MMBtu, up 3.5 cents day/day. June climbed 3.8 cents to $2.643.
May Natural Gas Futures Extend Rally as LNG Holds Strong, Cash Prices Climb
Natural gas futures advanced again Tuesday as robust liquefied natural gas (LNG) levels fueled demand optimism and a dose of chilly weather bolstered cash prices.
The May Nymex contract climbed 5.8 cents day/day and settled at $2.619/MMBtu – the fifth straight day of gains. June rose 5.3 cents to $2.696.
NGI’s Spot Gas National Avg. advanced 8.5 cents to $2.465.
LNG feed gas volumes hovered close to 2021 highs and well above 11 Bcf on Tuesday, NGI data showed, reflecting ongoing demand from both Asia and Europe for U.S. exports of the super-chilled fuel. With stocks low in Europe and the summer cooling season on the horizon, analysts increasingly expect LNG to remain a source of strength throughout the year.