North American natural gas prices are again testing $2.00/MMBtu as the market remains oversupplied amid light demand from a warmer than usual winter.
The April New York Mercantile Exchange gas futures contract lost 1.7 cents day/day on Thursday and settled at $2.154. May fell 2.4 cents to $2.283. A day earlier, both shed more than 17 cents.
NGI’s U.S. Spot Gas National Avg. on Thursday fell 22.5 cents to $2.135.
U.S. production remained at around 100 Bcf/d this week, with natural gas rig counts still at healthy levels, despite the pricing environment.
Mexico, meanwhile, imported 5.15 Bcf/d of natural gas over the last 10 days, according to NGI calculations. These figures did not include intrastate trades within Texas, which aren’t public.
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