• May Nymex prices off another nickel despite slightly cooler forecast
  • LNG still strong, but little further upside
  • Cash recovers a bit; pipeline maintenance kicks into gear

The perfect storm of factors that led to Monday’s dramatic sell-off along the Nymex natural gas futures curve reversed course on Tuesday, prompting a modest rebound in prices. However, the May contract quickly sold off after failing to overcome strong resistance, settling the day 5.5 cents lower at $2.456. June slipped 4.6 cents to land at $2.536.

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Spot gas prices managed to hold onto their small gains, sending NGI’s Spot Gas National Avg. up 5.5 cents to $2.240.

Though early in the low-demand spring season, Tuesday’s cooler revision to the latest weather forecast was enough to turn prices around...