April Nymex natural gas futures’ advance was cut short after two days as weather outlooks that supported gains early in the week shifted warmer midweek. Pressure was added while the market braces for a possible small storage injection in the U.S. Energy Information Administration (EIA) storage data that would further widen the inventory overhang.

At A Glance:

  • April futures retreat
  • Storage injection likely
  • Cash varied by weather

The front-month contract stumbled 4.5 cents to a $1.699/MMBtu settlement, failing to hold onto early gains to a $1.765 high. May futures, ahead of its move into the lead position on March 26, tripped 3.1 cents to settle at $1.845.

NGI’s Spot Gas National Avg. notched a 6.5-cent day/day gain to $1.470 in a day marked by mixed activity at regional...