-
Mid-April Cold Snap Drives Gains for Natural Gas Futures; Western Cash Prices Rally
Natural gas futures managed to hold onto early gains midweek despite little change in fundamentals. The May Nymex gas futures contract traded in a nearly 10-cent band before settling Wednesday at $2.520, up 6.4 cents day/day. June picked up 6.1 cents to reach $2.597. chart Spot gas prices were mixed on Wednesday as the low price environment likely started to incentivize power burns. NGI’s Spot Gas National Avg. climbed 4.0 cents to $2.280. After some stubborn technical resistance came into play on Tuesday, the prompt month climbed early on Wednesday after the Global Forecast System model gained 10 heating degree ... (full story)