London — NYMEX April natural gas futures were a touch higher early Monday, having seesawed overnight as moderate weather associated with spring looked to keep demand subdued and allow for a changeover from weekly storage withdrawals to injections.
Receive daily email alerts, subscriber notes & personalize your experience.Register Now
At 7:20 am ET (1120 GMT), the contract was 0.7 cent higher at $2.688/MMBtu, having traded in a range from $2.675/MMBtu to $2.697/MMBtu.
Although below-average temperature readings linger in midrange forecasts, the arrival of the spring shoulder season spells higher low temperatures likely to keep a lid on heating demand ahead of the onset of significant cooling load.
The National Weather Service 6-10 day outlook showed below-average temperatures enveloping the bulk of the West, a few parts of the Midwest, nearly the entire Northeast and much of the mid-Atlantic into a corner of North Carolina.