May Natural Gas Futures Expire Above $4, Highest Since Sep. 2011

摘要

The US May natural gas contract slid only slightly as it rolled off the board in the mid-$4-teens, the highest settlement in 18 months and double the May 2012 contract finale at just over $2. Earlier in the week it looked like May was about to relinquish its $4 handle as a three-session plunge from the low $4.40s took the prompt month down 24.20, or 5.5%. The dive followed an equally impressive rally predicated on fears that a truncated shoulder season wouldn't provide the robust injections necessary to meet next winter's demand (NGW Apr. 22'13).