May Natural Gas Bidweek Prices Up Sharply on Looming Heat and Strong Exports, but Appalachia Slips
After some early-season heat last month, May natural gas bidweek prices rallied by the double-digits as warmer weather is set to build and threaten to expand storage deficits. The NGI’s May Bidweek National Avg. jumped 30.5 cents to $2.685/MMBtu.
The May 2021 natural gas bidweek average was $1.06 higher than last year’s May bidweek price, which had posted its own sharp increase fueled by the easing of stay-at-home and shutdown mandates amid Covid-19. However, the May 2021 Bidweek National Average fell short of the Nymex May futures contract’s $2.925 expiration, which strengthened for three consecutive days before rolling off the board.
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