Leticia Gonzales

After treading water for much of last week, natural gas futures fell significantly lower to start the week Monday after a dramatic warmer shift in weather models. The Nymex May gas futures contract dropped 7 cents to settle at $2.590/MMBtu, while June fell 7.1 cents to $2.633.

After weeks of softening for natural gas forwards, prices bounced back during the April 4-10 period as production remains down from earlier post-winter highs. May prices rose an average of 4 cents, while June rose a nickel, according to NGI’s Forward Look.

Natural gas futures resumed their sideways action in a quiet session Friday, with prices fluctuating within a tight band of less than a nickel throughout the day. The Nymex May gas futures contract eventually settled just 0.4 cents lower at $2.660/MMBtu, as did June, which slipped to $2.704.

Natural gas futures resumed their sideways action in a quiet session Friday, with prices fluctuating within a tight band of less than a nickel throughout the day. The Nymex May gas futures contract eventually settled just 0.4 cents lower at $2.660/MMBtu, as did June, which slipped to $2.704.

A slew of pipeline maintenance and one of several blasts of cold air expected to move through parts of the country in the weeks ahead did little to spark any interest from natural gas traders this week. Most prices outside of the West finished the April 8-12 week in the black, although gains were limited to less than a dime at most market hubs. Permian Basin locations posted far more substantial increases that pushed prices back into positive territory, and the NGI Weekly National Avg. rose 8.5 cents to $2.35.

The Energy Information Administration (EIA) reported implied flows indicating a 29 Bcf injection into storage inventories for the week ending April 5. The net change week/week, however, was a smaller 25 Bcf build, due to multiple reclassifications in the Pacific and South Central regions that moved some stocks into base gas, rather than working gas.

After weeks of softening for natural gas forwards, prices bounced back during the April 4-10 period as production remains down from earlier post-winter highs. May prices rose an average of 4 cents, while June rose a nickel, according to NGI’s Forward Look.

After a couple of days at a stalemate, natural gas bears took control over the futures market Thursday as they brushed off slightly bullish storage data and looked ahead to what could be a substantial improvement in storage deficits in the weeks ahead. The Nymex May gas futures contract fell 3.6 cents to settle at $2.664/MMBtu, and June slipped 3.4 cents to $2.708.

After a couple of days at a stalemate, natural gas bears took control over the futures market Thursday as they brushed off slightly bullish storage data and looked ahead to what could be a substantial improvement in storage deficits in the weeks ahead. The Nymex May gas futures contract fell 3.6 cents to settle at $2.664/MMBtu, and June slipped 3.4 cents to $2.708.