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Daily Market Update April 26, 2022

Early Morning Update

The May ‘22 natural gas contract is trading up $0.25 at $6.92.  The Jun ‘22 crude oil contract is up $0.86 at $99.40.


A return of widespread colder weather continues to fuel the volatility of the natural gas market as we move closer to the last day of trading for the prompt month of May. The market settled up more than a nickel for the first time in nearly a week, as the 12-month strip rose nearly 2% to $6.59/MMBtu, while outer terms were more muted in their rise of 1.0–1.5% through 2024.A blast of lower-than-normal temperatures across the northern half of the country is forecast through the end of this week, before a more mild outlook looks to move in behind it. The sustained increase in rig counts still belies stagnating production numbers, as 93 Bcf/d remains the unwavering level constantly being eyed by market observers. Between spring-like variable weather and supply levels stalling out, the tightness of current market conditions continues to take participants for a ride.


Market Update 04 26 2022

Market Settles 04 25 2022


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