• Lower-than-expected storage figure reflects chilly April weather
  • Strong export demand also tightening up balances
  • Current trajectory points to ‘dangerously low’ storage heading into next winter

Natural gas futures prices strengthened Thursday after the latest government storage data pointed to continued tightness in the market. The May Nymex contract settled at $2.749, up 5.7 cents from Wednesday’s close. June climbed 5.5 cents to $2.831.

EIA storage april 16

Spot gas prices were mixed, but fell off sharply on the East Coast as the coldest temperatures associated with recent weather systems may be in the rearview mirror. NGI’s Spot Gas National Avg. finished 11.0  cents lower at $2.580.

Even as weather models came into better agreement that the early May time frame would be generally...