Natural gas prices seesawed, but always in positive territory, and advanced on Thursday for a second consecutive session. The first storage injection of the year failed to freeze bulls, who have fixated on robust demand for U.S. exports to help address festering global supply challenges.

storage

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

The May Nymex gas futures contract gained 3.7 cents day/day and settled at $5.642/MMBtu. June rose 4.3 cents to $5.701.

NGI’s Spot Gas National Avg. advanced 30.5 cents to $5.290.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 26 Bcf natural gas into storage for the week ended March 25. It marked the first inventory increase of the year, led by a 22 Bcf...