Natural gas futures forged ahead Friday, boosted by colder forecasts and expectations for back-to-back bullish storage prints relative to historic norms. The April Nymex gas futures contract settled at $2.216/MMBtu, up 6.2 cents day/day. May rose 7.8 cents to $2.361.
At A Glance:
- Bullish storage print in cards
- Supplies hold at robust levels
- Week-ahead weather shifts colder
NGI’s Spot Gas National Avg. gained 18.0 cents to $2.285.
NatGasWeather said weather data, while inconsistent through most of the past week, flipped back colder heading into trading Friday. The European weather model added several heating degree days for the next two weeks. This, the firm said, advertised a cooler-than-normal pattern heading into April and provided a bump for futures.