Natural gas futures rallied a second day, as traders absorbed a bullish government inventory report and the potential for vulnerable global supplies should the war in Ukraine drag on and the coming summer prove exceptionally hot. The April Nymex gas futures contract jumped 24.2 cents day/day and settled at $4.990/MMBtu. May gained 23.7 cents to $5.021.


At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

NGI’s Spot Gas National Avg. climbed 12.5 cents to $4.290.

Marex North America LLC’s Steve Blair, a senior account executive, told NGI that while domestic weather forecasts point to modest demand in coming weeks, the market is focused on threats to global supplies amid Russia’s invasion of Ukraine. With European countries...