Leticia Gonzales

Natural gas forward prices continued to ride the momentum of gains experienced late last week as a burst of stronger-than-normal demand lingered long enough to continue supporting the market during the April 25 to May 1 period. June prices rose an average of 6 cents during that time, while the balance of the summer (June-October) edged up a nickel, according to NGI’s Forward Look.

After natural gas futures prices in April plunged to their lowest level since 2016, and with a bearish weather outlook that is seen tightening storage deficits over the coming weeks, May bidweek prices fell in dramatic fashion.

With the strongest demand on tap for this week and the potential for moderating temperatures in May, traders quickly reversed the previous day’s gains and sent natural gas futures slightly lower on Tuesday. The June Nymex gas contract slipped 1.8 cents to $2.575, and July fell 2.3 cents to $2.617.

With the strongest demand on tap for this week and the potential for moderating temperatures in May, traders quickly reversed the previous day’s gains and sent natural gas futures slightly lower on Tuesday. The June Nymex gas contract slipped 1.8 cents to $2.575, and July fell 2.3 cents to $2.617.

After hopping in and out of positive territory, natural gas futures ended the day modestly higher as traders weighed a near-term period of elevated demand against outlooks for a more moderate mid-May that would all but certainly lead to a string of hefty storage injections. The June Nymex gas futures contract settled Monday at $2.593/MMBtu, up 1.3 cents. July rose a penny to $2.64.

After hopping in and out of positive territory, natural gas futures ended the day modestly higher as traders weighed a near-term period of elevated demand against outlooks for a more moderate mid-May that would all but certainly lead to a string of hefty storage injections. The June Nymex gas futures contract settled Monday at $2.593/MMBtu, up 1.3 cents. July rose a penny to $2.64.

After a brief dip into the red, the May Nymex gas futures contract rolled off the board 5.2 cents higher at $2.566/MMBtu Friday as weather models intensified an expected cold snap in the northern United States while also increasing heat for the southern states. June, which takes over the prompt-month position on Monday, settled at $2.58, up 3.2 cents.

After a brief dip into the red, the May Nymex gas futures contract rolled off the board 5.2 cents higher at $2.566/MMBtu Friday as weather models intensified an expected cold snap in the northern United States while also increasing heat for the southern states. June, which takes over the prompt-month position on Monday, settled at $2.58, up 3.2 cents.

With daytime temperatures reaching the 60s to 80s across key demand regions during the April 20-24 week, prices moved lower throughout much of the country. There were some stark exceptions, however, as stout gains on the West Coast that spilled over into West Texas led to a modest bump for the NGI Spot Gas Weekly Avg., which rose 2 cents to $2.055.