NYMEX February contract rises amid sliding production, rising lNG exports

摘要

The NYMEX February gas futures contract rose 3.2 cents to settle at $1.934/MMBtu Tuesday, a day ahead of expiration, amid sliding production and rising LNG exports. The front-month contract moved between $1.883/MMBtu and $1.952/MMBtu. The contract has stayed below $2/MMBtu for the sixth straight day. This is the first time since early 2016 that prices were observed below the $2/MMBtu level. Front-month contract settles averaged $1.835/ MMBtu for 38 consecutive days from February 11 through April 6 of that year. “[Tuesday’s] rally is technical, likely a result of the participants getting out of positions ahead of expiration,” said John Woods, president at JJ Woods Associates.