Natural gas forward prices across the curve fell during the May 15-21 trading period amid swelling inventories and seasonal demand weakness.
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The summer strip remained well off the peaks it reached in early March following steep storage declines over the winter. Since then, however, a mild shoulder season has helped replenish stocks and assuage supply concerns.
June fixed prices averaged $2.801/MMBtu on Wednesday (May 21), down about 12.0 cents on average from last Thursday (May 15), NGI’s Forward Look data show. July fixed pricing showed similar declines, falling by 10.2 cents on average.