Natural gas futures strengthened Monday as weather models trended cooler for late April, providing support to a market awash in supply but also seeing a surge in LNG demand. The May Nymex gas futures contract settled at $2.275/MMBtu, up 16.1 cents on the day. June futures climbed 13.9 cents to $2.444.

At A Glance:

  • Production dips below 100 Bcf/d again
  • LNG feed gas demand hits new high
  • SoCal pipeline work fuels cash

Spot gas prices also strengthened substantially across most of the Lower 48. NGI’s Spot Gas National Avg. rose 31.5 cents to $2.175.

After several days of record warmth this month, a cooler change in the weather models over the weekend got futures off to a solid start early in Monday’s session. The May Nymex contract opened less than a nickel higher than...