As mild weather threatened to further pad storage surpluses, natural gas futures sagged through midday trading Friday. Meanwhile, spot market buyers seeking supplies for weekend and Monday delivery were finding bargains aplenty.

Here’s the latest:

  • June Nymex futures down 7.5 cents to $1.911/MMBtu as of 2:15 p.m. ET

From recent levels, natural gas futures face technical resistance at $2.009, the intraday high recorded back on March 5, according to Mizuho Securities USA’s Robert Yawger, director of Energy Futures. 

  • Expiring May Nymex contract off 3.2 cents to $1.606 on light volume
  • Spot Henry Hub price at $1.405, down 5.0 cents and discounted roughly 20 cents versus expiring May futures, per NGI’s MidDay Price Alert 
  • Lower 48 storage at 655 Bcf above five-year average...