Natural gas futures recovered a bit on Tuesday as some heating demand was added back to the 15-day forecast. With some technical support also in play, the April Nymex gas futures contract settled at $2.687/MMBtu, up 11.5 cents on the day. May futures climbed 11.0 cents to $2.840.
At A Glance:
- GFS model trends cooler
- 4.0 Tcf end-October possible
- Cash mixed amid pipe work, cold
Spot gas prices were mixed, with the West and East coasts continuing to steal the show. NGI’s Spot Gas National Avg. dropped 28.0 cents to $3.165.
Overall, the coming pattern is still relatively cold compared to normal over much of the United States the next 15 days, just not as chilly as originally projected, according to NatGasWeather. The southern half of the country should continue to see high...