Elevated Production, Fading Winter Tug April Gas Futures Lower

摘要

April gas futures posted a fraction of a penny gain going into the weekend and ended the week with a 1.6% loss, landing in the upper $2.60s per million Btu. Lingering late-winter demand last week in the eastern US had much to do with holding back bearish sentiment common as the market enters spring. And it was key to why eastern US cash markets were a bit more buoyant than expected, with the benchmark Henry Hub price relatively flat for the week at $2.69, down only 20. The Gulf Coast and Southeast markets fell in line, as did the Upper Midwest, with the Chicago citygates off 20 to average $2.52.