Overnight Forecasts Shift Colder for Mid-April as Natural Gas Futures Climb Early

Updated forecasts showing colder temperatures later this month helped push natural gas futures several cents higher in early trading Tuesday. The May Nymex contract was up 3.6 cents to $2.547/MMBtu at around 8:50 a.m. ET.

Overnight runs of the American and European weather models added 10 heating degree days to the forecast for the April 13-20 period, a result of projections for colder weather systems moving into the eastern half of the country, according to NatGasWeather.

“The next seven to eight days remain emphatically bearish, with exceptionally light demand as most of the country warms above normal,” the firm said. “…However, after colder trends for April 13-20 in the overnight data, this period is now likely to be viewed as cold enough to satisfy.”

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