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Market Open: Competing Fundamentals, War in Iran Drive Natural Gas Futures Trade

Natural Gas Intelligence · last updated

To cap a rollercoaster but mostly bullish week of trading, natural gas futures probed higher to start Friday. Market participants weighed waning weather demand and strong production against solid LNG activity, a widened storage deficit and the uncertainties imposed by war in the Middle East. The April Nymex gas futures contract climbed 8.2 cents to $3.085/MMBtu just before 8:30 a.m. ET.

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At A Glance:

  • Production hangs near 110 Bcf/d
  • Exports, weather demand key
  • Storage deficit increases to 2.2%