Natural gas futures forged higher on Friday, as they did every day of the week, fueled by the uncertainty of war in Ukraine and the related prospects of long-term demand for U.S. liquefied natural gas (LNG). The April Nymex gas futures contract settled at $5.571/MMBtu, up 17.0 cents day/day. May advanced 16.5 cents to $5.611.

market

At A Glance:

  • U.S.-Europe make LNG pact
  • Global demand drives futures
  • Production holds steady

Futures were up nearly 15% for the week.

Cooler weather patterns expected early in the next few days boosted cash prices. NGI’s Spot Gas National Avg. surged 57.5 cents to $5.275.

As Russia’s war against Ukraine raged into a second month, the Europe Union (EU) hastened efforts to wean its member countries from Kremlin-backed natural gas. European...