As an outsized storage surplus continued to hang over the outlook, regional natural gas forward prices shed value during the March 21-27 trading period, NGI’s Forward Look data show.

Front month fixed prices at benchmark Henry Hub fell 12.7 cents for the period to end at $1.577/MMBtu. However, the benchmark also saw double-digit losses for the May and June contracts.

Fixed prices for June 2024 delivery at Henry dipped below $2.000 during the period to $1.959, Forward Look data show.

[Mexico Matters: Cross-border energy trade between the U.S. and Mexico reached $82 billion last year. Understand this burgeoning trade flow — the projects, politics and natural gas prices — with NGI’s Mexico Gas Price Index. Know more.]

April Futures Swoon

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