Save for later Print Download Share In an apparent short-covering rally, May gas futures jumped 23.3垄 Monday to roll off the board at $3.17 per million Btu. The June contract, which takes over as prompt month Tuesday, increased 22.9垄 to $3.343/MMBtu. 鈥淭his rally comes despite materially warmer weather forecasts coming out this weekend, with a net projection of +14.4 degrees Fahrenheit in warming over the next two weeks. Given the reaction to last week鈥檚 bearish storage report, we expect natural gas to have been technically oversold coming into this week,鈥� Gelber & Associates said. 鈥淥n the LNG side, feed gas demand has shown its first signs of stabilizing over the weekend with average flows recovering to above 16.1 Bcf/d and strengthening today鈥檚 rally.鈥�
