After yesterday’s 2021 curve-wide sell-offs that averaged nearly 10 cents for each contract, natural gas futures are trying to patch its wounds with 2-4 cent gains across the 2021 strip.
April’s contract was up as much as 6 cents early this morning before retreating back a few, now only up about 4 cents above previous settlement, sitting near $2.53/MMBtu.
A lack of extreme cold or heat through the end of march should keep prices depressed at their current levels, however some support is coming from gas demand for LNG Exports which has reached a 7-day average of 11.5 Bcf/D, a quantity we haven’t seen since mid-December of last year.
Source: Gelber & Associates
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