0950 ET - U.S. natural gas futures appear yet to have found a bottom as weak demand in the shoulder period is exacerbated by high production and an easing in LNG feedgas flows. The May contract is set to expire Monday, "with recent contract rollover periods leaning bearish," Eli Rubin of EBW Analytics says in a note. Although triple-digit weekly injections could shift inventories to a surplus as early as next week, "the June contract is technically oversold and a $1.16 (-27%) month-to-date plunge may set the stage for a relief rally into early May," he adds. Gas for May delivery is off 1.6% at $2.882/mmBtu, and the June contract is down 1.2% at $3.060. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
April 25, 2025 09:50 ET (13:50 GMT)
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