Natural gas futures forged higher on Friday as production dropped amid blasts of late-winter cold, marking a second consecutive day of gains but not enough to offset losses earlier in the week. The April Nymex gas futures contract gained 9.4 cents day/day and settled at $4.725/MMBtu. May rose 9.7 cents to $4.766.


At A Glance:

  • Forecasts point to spring warmth
  • Markets look for storage injections
  • War in Ukraine clouds outlook

The prompt month had gained 10.5 cents Thursday but finished the week down 6% after forecasts for warm weather later in March fueled losses to start the week.

NGI’s Spot Gas National Avg. gained 35.5 cents on Friday to $4.805.

Production dipped below 92 Bcf, according to Bloomberg’s Friday estimate, down from around 93 Bcf much of the week – and...