After two weeks of downward pressure on prices, North America natural gas futures popped this week on the back of renewed concerns over the war in Ukraine.

mini mex track

Natural gas futures finished higher for the third consecutive session on Wednesday. The April New York Mercantile Exchange gas futures contract rose 4.5 cents day/day and closed at $5.232/MMBtu. May gained 4.7 cents to $5.274.

Given the war in Ukraine, “There is a lot of apprehension in Mexico over supply, especially after the critical alert in February,” a natural gas buyer at a power generation plant in Mexico City told NGI’s Mexico GPI.

A critical alert on Mexico’s Sistrangas national pipeline system was issued on February 25-26. The gas crunch was caused by problems at domestic natural gas processing centers,...