Natural Gas Futures Rally Again, but Fail to Maintain Momentum Late; Spot Prices Push Ahead - Natural Gas Intelligence
Natural Gas Futures Rally Again, but Fail to Maintain Momentum Late; Spot Prices Push Ahead - Natural Gas Intelligence
Natural gas futures advanced most of Friday, spurred higher by supply interruptions and the potential for a sustained production pullback. But the prompt month gave up gains late and finished flat as traders paused to digest the latest rig count data.
At A Glance:
- Storage miss motivates bulls
- Production remains wildcard
- Weather demand on hiatus
The June Nymex gas futures contract settled at $2.585/MMBtu, down seven tenths of a cent day/day. July shed eight tenths of a cent to $2.707. The June contract nevertheless closed the week up 14% from the prior week’s finish.
NGI’s Spot Gas National Avg. gained 7.0 cents on Friday to $2.040.
A light storage print on Thursday – at least relative to market expectations – galvanized bulls. The U.S. Energy Information...
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