Natural gas futures finished off the short holiday week with another huge leap higher after the latest inventory data confirmed a sluggish start to the injection season. The May Nymex gas futures contract settled Thursday at $7.300, up 30.3 cents on the day. June futures raced 32.7 cents higher to $7.423.

market graph

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

Momentum continued in the spot gas market as well ahead of a chilly weather pattern seen continuing until the last week of April. NGI’s Spot Gas National Avg. climbed 28.0 cents to $6.805.

Trading action on Thursday began much like it has on most days this week, with futures prices up at the open as Russia’s war in Ukraine continues to provide a volatile backdrop for an...