On its first day as the prompt month, the May New York Mercantile Exchange natural gas futures contract lost 8.0 cents day/day on Thursday and settled at $2.104/MMBtu. June fell 9.0 cents to $2.358.
On Wednesday, April futures fell 3.9 cents day/day to roll off the books at $1.991/MMBtu, the lowest price all month.
U.S. production remains at around 100 Bcf/d and weather demand continues to be light. In a potentially bullish sign, Freeport LNG on Thursday was poised to take feed gas to levels not seen since before an explosion and fire knocked the plant offline last June. Volumes are estimated to be around 1.9 Bcf/d, with liquefied natural gas demand in the U.S. hitting a record 14 Bcf/d.
“But many of the LNG sites are expected to undergo maintenance this Spring, suggesting...