Natural gas prices advanced for the first time in four sessions this week, boosted by a triple-digit decline in inventories and festering uncertainty about the Russia-Ukraine war’s impact on commodity markets. The April Nymex natural gas futures contract settled at $4.631/MMBtu, up 10.5 cents day/day. May gained 10.8 cents to $4.669.

At A Glance:

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

NGI’s Spot Gas National Avg. gained a half-cent to $4.450.

U.S. utilities withdrew 124 Bcf natural gas from storage during the week ended March 4, the Energy Information Administration (EIA) reported on Thursday. The result modestly exceeded market expectations, supporting futures.

“It was colder than normal over the northern and central U.S.”...