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NGI's weekly national spot gas average rose 9.5 cents to $1.230/MMBtu for April 22-26, led by gains in West Texas. The May Nymex contract settled at $1.614 on its last day as front month, down 13.8 cents on the week after a larger-than-expected 92 Bcf storage injection.
A bigger storage injection and Freeport's third train going back offline weigh on US gas futures, while mild weather points to growing storage surplus. Feed buyers see only indirect effects through energy costs.
naturalgasintel.comApr 26, 2024After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
