Mercados

May Natural Gas Contract Slips Below $2.60 Amid Warmer Change to Weather Models

  • Major shift in weather models sends natural gas prices crashing through key support
  • Production on the rise, leading to significant improvement in storage picture over coming weeks
  • Exports to Mexico set to decline as NET Mexico starts spring maintenance
  • Cash prices slide as mild weather negates slew of pipeline work going on around the country
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Shoulder Season Balances in Focus as Natural Gas Futures Steady; Waha Back in the Red

  • May Nymex futures contract down 0.9 cents to $2.699; June down 0.9 cents to $2.739
  • “Recent weather data has been inconsistent, flip-flopping between milder and cooler trends for the second half of April,” NatGasWeather says
  • “As expected, flush production following freeze-offs and maintenance at Sabine Pass Train 1 and Train 2 are setting the market up for lackluster cash pricing”: Energy Aspects
  • “Permian production so far in April has dropped off considerably compared to the last several weeks of March,” says Genscape’s Bernardi
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