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:

  • Prompt month gains 1.7 cents
  • Maintenance impacts output, LNG
  • Demand poised to grow late June

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 verge of puncturing the upper bound of a key band of resistance at $5.839-5.912-6.020-6.032 pegged by ICAP...