Natural gas futures edged up on Thursday as weather models aligned better in showing cooler weather returning every few days or so through early May across the Lower 48. With EIA data indicating that balances remain too loose, however, the May Nymex gas futures contract only managed a 2.7-cent gain to $2.249/MMBtu.

At A Glance:

  • Production at 96.5 Bcf/d
  • Uneven weather outlook
  • Storage situation improves

Spot gas traded within a dime of the prior day at most U.S. locations, though West Coast prices fell more sharply amid some late-season storms. NGI’s Spot Gas National Avg. slipped 5.0 cents to $2.160.

Futures prices were lower at the open of Thursday’s session, though losses were modest given continuing heating demand in the central and northern areas of the country. As...