Natural gas futures continued to strengthen Friday as first-of-the-month production data pointed to a steep decline in output, while export demand remained strong. The May Nymex gas futures contract closed the week at $5.720/MMBtu, up 7.8 cents from Thursday’s close. June futures climbed 9.4 cents to $5.795.


At A Glance:

  • U.S. demand to be light for next few days
  • Hefty summer storage injections needed
  • Russian conflict expected to fuel volatility

Near-perfect temperatures dragged spot gas prices lower for many U.S. locations for the three-day period through Monday. NGI’s Spot Gas National Avg. slipped 1.5 cents to $5.275.

Even with spring weather taking hold across much of the country, price risk continues to be skewed to the upside given Russia’s war in Ukraine, now...