Leticia Gonzales

While some of the world’s largest oil producers were meeting to discuss potential curtailments, natural gas traders were making cuts of their own, slashing Nymex futures even further as demand impacts from Covid-19 became increasingly clear. After plunging as low as $1.721, the May contract settled Thursday at $1.733, down 5.0 cents day/day. June dropped 3.3 cents to $1.863.

Spot gas prices for the April 6-9 week posted stout gains across much of the Lower 48 as sub-$2/MMBtu gas continued to incentivize strong power burns despite a lack of significant demand. Led by gains on the West Coast,NGI’s Spot Gas WeeklyNational Avg.jumped 16.0 cents to $1.520.

Natural gas futures skyrocketed Wednesday as supply/demand balances continued to tighten and news reports circulated that deliveries of U.S. natural gas to China have resumed after more than a year. The May Nymex contract settled Tuesday at $1.852, up 12.1 cents day/day and up 30.0 cents from last Thursday.

An increasingly tight supply/demand picture that began emerging over the past week sent natural gas forwards surging during the April 2-7 period. May prices jumped an average 30 cents, and similarly stout double-digit gains were seen through the remainder of summer, according to NGI’s Forward Look.

The saying goes that all good things must come to an end, and for the natural gas market, that happened on Wednesday as prices retreated following a three-day rally that sent the prompt month some 30 cents higher. With a warmer turn in the latest weather forecasts, the May Nymex gas futures contract settled at $1.783, down 6.9 cents day/day. June fell 5.3 cents to $1.896.

Natural gas futures skyrocketed Wednesday as supply/demand balances continued to tighten and news reports circulated that deliveries of U.S. natural gas to China have resumed after more than a year. The May Nymex contract settled Tuesday at $1.852, up 12.1 cents day/day and up 30.0 cents from last Thursday.

An increasingly tight supply/demand picture that began emerging over the past week sent natural gas forwards surging during the April 2-7 period. May prices jumped an average 30 cents, and similarly stout double-digit gains were seen through the remainder of summer, according to NGI’s Forward Look.

The saying goes that all good things must come to an end, and for the natural gas market, that happened on Wednesday as prices retreated following a three-day rally that sent the prompt month some 30 cents higher. With a warmer turn in the latest weather forecasts, the May Nymex gas futures contract settled at $1.783, down 6.9 cents day/day. June fell 5.3 cents to $1.896.

Natural gas futures picked up where they left off last week, extending gains as weather forecasts trended even colder and Lower 48 production declined. The May Nymex gas contract hit a $1.740 intraday high on Monday before settling a few ticks below that level at $1.731, up 11.0 cents from Friday’s close. June rose 10.6 cents to settle at $1.844.