April Nymex natural gas (NGJ24) on Tuesday closed +0.041 (+2.14%).
Nat-gas prices on Tuesday added to Monday's gains and posted a 1-month high. Nat-gas prices have been climbing on carryover support since Monday when EQT Corp, the largest U.S. nat-gas producer, said it would cut about 30 to 40 billion cubic feet of net production through March in response to low prices. Gains in nat-gas were limited on the outlook for warm U.S. winter temperatures to reduce heating demand for nat-gas that will keep supplies elevated. On Tuesday, the Commodity Weather Group said forecasts for the central to the eastern U.S. have shifted warmer for March 10-14.
