1452 ET - U.S. natural gas futures rise sharply as the May contract expires with the market still awaiting hotter summer weather to drive up demand. Meanwhile, expectations are that the storage deficit against the five-year average will shift to a surplus in coming weeks, "implying to me that today's rally may be a short-lived expiration phenomenon," Mizuho's Robert Yawger says in a note. Nymex gas for May delivery goes off the board up 7.9% at $3.170/mmBtu, and the June contract rises 7.4% to $3.343/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
April 28, 2025 14:52 ET (18:52 GMT)
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