Supply adequacy fears amid continued signs of underwhelming domestic output, amplified by ongoing geopolitical anxieties, helped natural gas bulls confidently rally futures above the psychological $6.00 threshold Tuesday. 

At A Glance:

  • Early-cycle pipeline nominations show production drop, fueling supply fears
  • Bullish sentiment continues on “same general narrative”
  • Analysis shows E&Ps sticking to maintenance-level spending

Cash prices followed futures higher, with the NGI Spot Gas National Avg. advancing 30.5 cents on the day to finish at $5.785/MMBtu.

May Nymex futures soared 32.0 cents to settle at $6.032 Tuesday, with the market showing little of the trepidation that saw prices stagnate a day earlier.

As of Tuesday’s settlement, the May contract was on the...