June Futures Slide 2.2%; Western Canadian Gas Sees Negative Pricing

摘要

The June futures contract settled in the low $2.70s per million Btu Friday, falling a penny and a half as the market continues to see range-bound trading. The prompt-month contract lost 2.2% for the week. "This up and down leaves prices relatively unchanged and is a product of the conflict between low storage levels amid record production," Gelber & Associates analyst Daniel Myers said. He added that production is pushing to record highs and weather is poised to turn milder, which should result in a bigger storage build for the week ending May 4.