Natural gas futures forged ahead to kick off April trading, supported by drops in production readings and near-term weather data that showed a bump in heating demand.


At A Glance:

  • Output slides to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

Coming off a 4.5-cent gain ahead of Good Friday last week, the May Nymex gas futures contract picked up another 7.4 cents on Monday and settled at $1.837/MMBtu.

NGI’s Spot Gas National Avg. jumped 14.0 cents to $1.455.

Production hovered around 97 Bcf/d to start the week, according to both Bloomberg and Wood Mackenzie estimates. That was down from about 100 Bcf/d last week.

EBW Analytics Group’s Eli Rubin, senior analyst, noted that output estimates at the start of any given month often are relatively light....