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.

Longer Term Vision