Natural gas prices trended lower much of Monday as production increased and forecasts showed light weather-driven demand across most of the Lower 48. Still, futures crept back into positive territory in afternoon trading amid the persistent global supply pressures amplified by Russia’s war in Ukraine.

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At A Glance:

  • Calls for LNG exports elevated
  • Weather-driven demand eases
  • Domestic production recovers

The April Nymex gas futures contract settled at $4.900/MMBtu, up 3.7 cents. May rose 3.2 cents to $4.934.

NGI’s Spot Gas National Avg. climbed 5.0 cents to $4.285, led higher by gains in West Texas.

Bespoke Weather Services said that, despite a round of spring storms early this week and the potential for chilly low temperatures in the Midwest and Northeast by the...