May Nymex Natural Gas Expires Higher on Warming Temperatures, Strong Exports

• BREAKING: U.S. EIA reports a 15 Bcf injection into storage inventories for the week ending April 23
• Natural gas futures strengthen again as tight balances continue
• Cash notches more gains

Part of a broad move higher across commodities, natural gas futures recorded a third straight day of gains despite an uptick in production and moderate weather outlooks. The May Nymex gas futures contract rolled off the board at $2.925, up 5.2 cents from Tuesday’s close. June, which takes over the prompt-month position on Thursday, climbed 1.8 cents to $2.96.

Spot gas prices also remained firm as warmer weather on the East Coast appears to be driving some early-season cooling demand. NGI’s Spot Gas National Avg. rose 4.0 cents to $2.775.

Though weather is typically not a major price...