Save for later Print Download Share LinkedIn Twitter The May contract, which expires Wednesday, rose to a nine-week high Tuesday adding 8.3¢, or 3%, to $2.873 per million Btu. May gas has posted a 14.3¢, or 5.2% gain in the last two sessions amid record LNG exports and US production falling below 90 billion cubic feet per day. Also, as focus – and volumes – turn to the first summer contract, June gas shot 6.8¢ higher to $2.942/MMBtu. Late season cold had already fueled a 13.5% rise since Apr. 6 and now early warmth in the eastern markets is spurring concerns over the summer storage refill. KKM Financial’s Dan Deming noted that Energy Information Administration data shows year-on-year injections are well behind last year. Meanwhile, exports as LNG or via pipeline to Mexico together totaled 17.9 billion cubic feet per day last week, which is that much more gas not being stored for winter 2021-22. The prompt month traded in a $2.783-$2.876 range. The 12-month strip moved 4.7¢ higher to $3.008, while the 2022 strip added 1.2¢ to close at $2.735 (Futures contracts). * * * In the daily cash market, Tennessee Zone 4 300 leg, receipts saw the most significant price move of the day, rising 81¢ to $2.06. This compared to benchmark Henry Hub cash prices that were up 16¢ at $2.85. In the Northeast, Transco zone 6 New York went down 2¢ to average $2.43, while Boston-area Algonquin advanced 2¢ to average $2.55. In West Texas, cash prices at the Permian's Waha Hub rose 8¢ to average $2.58. Meanwhile, Rockies leader Kern/Opal rose 9¢ to $2.97, SoCal Citygate declined 10¢ to average $3.69 and Northwest Sumas gained 18¢ to average $2.91. In Canada, Alberta benchmark Aeco rose 9¢ to $2.29 (Daily spot prices). * * * The June WTI contract moved $1.03, or 1.7% higher Tuesday to close at $62.94 per barrel. The Covid-19 crisis in India has spurred speculation that Opec-Plus will postpone a planned output increase.