Natural Gas Futures Eke Out Modest Gain Amid Rising LNG Demand, Strong Power Burns

Natural gas futures prices bounced around Tuesday, with the prompt-month Nymex contract trading in a relatively tight range before ultimately settling modestly higher day/day. With LNG demand continuing to rise and weather forecasts rather uninspiring, the May Nymex contract edged up 1.4 cents to $2.186/MMBtu.

At A Glance:

• Production at 96.5 Bcf/d
• Uneven weather outlook
• Storage situation improves

Cash prices shifted a dime or less at the vast majority of North American locations. NGI’s Spot Gas National Avg. slipped 7.5 cents to $2.400.

Feed gas deliveries to U.S. liquefied natural gas facilities are ramping up toward all-time highs, setting the stage for incremental gains later this year as Freeport LNG returns to full capacity and Calcasieu Pass comes fully online. NGI...