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 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.
May Natural Gas Futures Falter, Despite LNG Momentum
BREAKING: U.S. EIA reports net 14 Bcf injection into natural gas storage for the week ending March 26, coming in slightly below market expectations
May Nymex contract settled at $2.608/MMBtu on Wednesday, down 1.5 cents day/day
Robust U.S. export activity held at lofty levels, but natural gas futures fell again on Wednesday as traders mulled domestic demand weakness and the potential for a bearish government inventory report on Thursday.
The May Nymex contract settled at $2.608/MMBtu, down 1.5 cents day/day. It declined 3.0 cents a day earlier, its first session as the prompt month. June fell 1.4 cents on Wednesday to $2.667.