• Export volumes dipped lower
  • Weather demand began to fade
  • Cash prices continued to slide

Forecasts advertising hot temperatures for population centers in the eastern half of the Lower 48 later this month helped send natural gas futures sharply higher early Monday. The June Nymex contract was up 10.9 cents to $3.070/MMBtu at around 8:45 a.m. ET.

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This was after a three-day rally for natural gas futures petered out on Friday, as traders took profits after export volumes dipped lower, weather-driven demand eased and cash prices slid for a fourth straight day.

The June Nymex contract lost 1.2 cents day/day and settled at $2.961/MMBtu. July fell seven-tenths of a cent to $3.018.

NGI’s Spot Gas National Avg. shed 6.5 cents to $2.605.

Both the domestic and European weather...