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Natural Gas Futures, Spot Prices Power Forward Following Sign of Production Pullback - Natural Gas Intelligence

Natural Gas Intelligence · last updated

Natural Gas Futures, Spot Prices Power Forward Following Sign of Production Pullback - Natural Gas Intelligence

Natural gas futures traders shrugged off continued mild weather forecasts and elevated supply data, seizing instead on a sharp drop in the weekly rig count to push prices higher for a second day.

At A Glance:

- Bargain buying continues
- Rig count invigorates bulls
- NGI sees 110 Bcf injection

Following a 7.6-cent gain to close out last week’s trading, the June Nymex gas futures contract on Monday advanced 10.9 cents day/day and settled at $2.375/MMBtu. July followed suit, rising 10.4 cents to $2.542.

NGI’s Spot Gas National Avg. jumped 38.5 cents to $2.035, rebounding from losses the prior week.

[ Want today’s Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.]

Production held strong at 100 Bcf/d on Monday,...

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