Natural gas futures strengthen further

A massive day/day decline in U.S. production drove more gains for natural gas futures despite a modest pullback in exports and continued outlooks for moderate early May temperatures. The May Nymex futures contract settled at $2.873, up 8.3 cents day/day. June rose 6.8 cents to $2.942.

Spot gas prices also bounced Tuesday ahead of a cool weather system set to move into the central United States midweek. NGI’s Spot Gas National Avg. climbed 13.0 cents to $2.735.

With the May futures contract set to roll off the board Wednesday, some volatility along the Nymex curve was expected.

Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.

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