With bulls aiming to send prices higher for a third straight session, natural gas futures were up modestly through midday trading Tuesday as weaker production volumes and stronger physical prices hinted at tightening market conditions. 

Here’s the latest:

  • May Nymex futures at $1.854/MMBtu as of 2:13 p.m. ET, up 1.7 cents

The front month dipped as low as $1.778 earlier in the session but began to rally shortly after the start of normal trading hours around 9 a.m. ET. 

  • Production still weak in latest daily estimates; Wood Mackenzie data showing Tuesday’s volumes at 98.2 Bcf/d
  • Cash prices gaining as April chills expected through the end of the week for Midwest, East
  • Henry Hub spot price advancing for a third straight session, up 2.5 cents to $1.675, per NGI’s MidDay Price...