Market Watch

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April gas futures plunged to a low of $2.127 on Tuesday before recovering to settle at $2.348 per million Btu, up 12.5¢ from Monday. Easing production, increasing feedgas deliveries to Freeport LNG, and the expectation of larger than normal storage draws due to colder weather are appeared to lend tenuous support to prices as the market looks toward a likely hefty storage pull this week as the heating season winds down. But Price Futures analyst Phil Flynn citied “concerns about the global economy” for weighing on prices. And Gelber & Associates said those competing dynamics have the market “in a logjam, with bulls and bears battling it out to determine if a retest of the lows is next or the market has found ground to build upon."

Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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