April natural gas futures plummeted Friday as temperatures are expected to moderate in the coming days after the latest freeze across the county. On its first day at the front of the Nymex strip, the April futures contract settled at $4.470/MMBtu, off 9.8 cents on the day. May slipped to $4.485.

markets

At A Glance:

  • Global energy market calm despite ongoing crisis
  • Production recovery continues, but LNG still weak
  • Cash slides as mild weather looms

Spot gas prices also weakened in most of the Lower 48. There were areas in New England that continued to see strong cash prices, but NGI’s Spot Gas National Avg. dropped 51.0 cents to $5.965.

One day after the Russian invasion of Ukraine sent energy markets into an uproar, the U.S. natural gas market proved much calmer in closing...