Winter 2022-2023 prices approach $8/MMBtu US production averages 93.2 Bcf/d in April US gas storage deficit widens to over 300 Bcf US gas futures prices edged back toward the mid-$7/MMBtu range in May 2 trading as domestic supply remains constrained by sluggish production and an enduring inventory deficit. As US upstream activity continues to build, though, the now-aging rally faces increasing downside risk later this summer. Receive daily email alerts, subscriber notes & personalize your experience. Register Now In early trading, the June contract briefly edged up to $7.55/MMBtu while balance-of-summer futures traded into the mid-$7.60s/MMBtu. The market remained mostly in contango through next winter with January 2023 briefly pricing at nearly $7.90/MMBtu, data from CME Group showed. At a time of year when US gas prices are typically trough, the NYMEX bulls are steering the market, apparently spurred persisting supply concerns this spring. In April, spring pipeline […]