The May gas futures contract pushed into the mid-$1.80s per million Btu Tuesday as it continued an impressive rally that has added 30c to the prompt month in three sessions.

摘要

The May contract rebounded off 25-year lows Friday after an agreement to curb global oil production fizzled. It picked up steam Monday in the wake of a colder turn in Eastern US forecasts. “Downside demand risks are likely to persist into the summer and will eventually cap this and forthcoming rallies,” Gelber & Associates analyst Daniel Myers said. “However, in several months it may not be surprising to look back at last week’s re-test of lows in the $1.50’s as the double- bottom that ultimately morphed into a robust market recovery.”