In an abbreviated trading period ahead of the long Memorial Day weekend, weekly cash prices dipped lower amid mild temperatures throughout the nation’s midsection and Northeast.

eia storage may 21

With both heating and cooling demand light on a national level, NGI’s Weekly Spot Gas National Avg. for the May 24-27 period fell 6.0 cents to $2.685. Gas traded during the period was for delivery May 25 to May 31 – altered by a day due to the holiday on Monday.

The July Nymex natural gas futures contract, meanwhile, settled at $2.986/MMBtu to close the trading week Friday, up 2.8 cents day/day, partially offsetting a steep loss the day earlier. It took over as the prompt month on Thursday.  

Mild conditions permeated the Midwest and Northeast during the weekly cash price period, keeping prices...