Natural Gas News – April 04, 2023

By Published On: April 4, 2023Categories: Daily Natural Gas Newsletter

Natural Gas News – April 04, 2023

U.S. Natural Gas Futures Drop 4% on Rising Output, Milder Weather

U.S. natural gas futures dropped about 4% on Monday on rising output and forecasts for milder weather and less heating demand than previously expected, which should allow utilities to start injecting gas into stockpiles this week. That price decline occurred despite a rise in the amount of gas flowing to liquefied natural gas (LNG) export plants to a record high in March after Freeport LNG’s export plant in Texas exited an eight-month outage in February and returned to full power over the past week. Freeport LNG shut in June 2022 after a fire. Front-month gas futures NGc1 for May delivery on the New York Mercantile Exchange (NYMEX) were down 8.8 cents, or 4.0%, to $2.128 per million British thermal units at 9:06 a.m. EDT (1306 GMT). On Friday, the contract jumped 5% to its highest close since March 24. The market … For more, go to

Lower Natural Gas Price Is Not All Good News for Europe

Europe successfully avoided a gas shortage crisis this winter thanks to high LNG imports, reduced demand, and milder weather. As a result, European natural gas prices have fallen to the levels from January 2022, just before the Russian invasion of Ukraine. This week, the front-month futures at the TTF hub, the benchmark for Europe’s gas trading, hovered around $47 (43 euros) per megawatt-hour (MWh), down from over $142 (130 euros) at the start of the 2022/2023 winter heating season and from the record-high of $350 (320 euros) per MWh in August 2022. Warmer winter weather and subdued LNG demand from Asia helped Europe fill storage sites to adequate levels before the heating season and exit that season with inventories well above historical averages. As fears of a gas crunch have subsided… For more, go to:

This article is part of Daily Natural Gas Newsletter


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