In my April 15, 2025, Q1 Barchart article on the energy sector, I highlighted that “natural gas was a double-digit percentage winner as inventories across the United States fell below the previous year’s and the five-year average.” Nearby NYMEX natural gas futures moved 13.38% higher in Q1, settling at the end of March 2025 at $4.1190 per MMBtu. On April 15, I wrote:
Natural gas is now in the shoulder season where heating and cooling demand are absent, but at around the $3.50 level, U.S. natural gas futures prices reflect low inventories. Meanwhile, the latest April 4 Baker Hughes natural gas rig report showed 96 rigs operating, 14 below the level at the same time in 2024. In April 2024, the nearby natural gas futures price was $2.14 per MMBtu at the month’s high.
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