BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR COOKIE NOTICE
X


April NYMEX natural gas drops 2.1 cents to $2.665/MMBtu on technical selling

London (Platts)--27 Feb 2018 748 am EST/1248 GMT


NYMEX April gas futures were on the defensive overnight into Tuesday, as technical selling met with bearish fundamentals. At 1155 GMT, the contract was down 2.1 cents at $2.665/MMBtu.

April gas pulls into the lead slot amid sentiment of overbuying, prompting a round of selling. Adding to the pressure, moderate weather looks set to keep demand subdued, with more gas set to stay in underground storage approaching the end of the withdrawal season on March 31.

Revised National Weather Service outlooks show below-average temperatures holding over the West, a few parts of the Midwest and the South Atlantic in the six- to 10-day period, then receding from portions of the Southwest but overtaking a majority of the country's eastern two-thirds in the eight- to 14-day period.

Average to above-average temperatures initially dominant across the central and eastern US will eventually shrink in scope.

--Staff report, newsdesk@spglobal.com
--Edited by James Leech, james.leech@spglobal.com

Platts North American Digital Commodities Summit
March 26, 2018 • Crowne Plaza Times Square • New York, New York

Will blockchain technology ease trading in the energy and commodities markets? How do traders interact with each other on a blockchain? What about the risk of cybercrime? What is the settlement risk involved in doing business in this emerging technology?

Find the answers at Platts North American Digital Commodities Summit.

Register now



Related News & Analysis


Video archives Commodities Spotlight podcast archive News features The Barrel blog

Related Products and Events


Gas Daily Platts Conferences and Events

Copyright © 2018 S&P Global Platts, a division of S&P Global. All rights reserved.