With some of the warmest weather of the past 40 years expected to continue for the next several days, natural gas futures struggled to find support and instead set their sights on the $2.00/MMBtu mark. After sliding to a $2.072 intraday low, the May Nymex natural gas futures contract settled Wednesday at $2.093, down 9.3 cents on the day.

At A Glance:

  • Mostly mild April seen continuing
  • More tightening needed to balance
  • Waha cash endures worst of pipe work

Spot natural gas prices were mostly lower as well, with NGI’s Spot Gas National Avg. sinking 6.5 cents to $2.335.

There were no major changes in the latest weather data, keeping a mild pattern in place for most of the country through the early part of the weekend, according to NatGasWeather. There are pockets of hotter...