NYMEX natural gas last 1 mo. (click for larger version)
The NYMEX natural gas futures "front month" contract (for June), based on the price of gas at the Henry Hub, hit a four-month high yesterday of $2.751/MMBtu, up 12.5 cents from Friday. We finally have some good news to talk about regarding prices. The NYMEX gas price is still not above $3 (which is when we breathe easier), but hey, we're making progress. What's driving the price to higher levels these days? In a nutshell, warm weather and the return of LNG exports that had been offline for a period of time. More demand, even with existing high supplies, equals higher prices.
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