The NYMEX June natural gas futures contract settled 10.30 cents higher at $1.993/MMBtu on Monday as collapsing US rig counts highlight expectations of lower associated gas production. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Monday’s settlement was the highest prompt-month close since January 17, the last session a front-month contract settled above $2/MMBtu. The last 14 weeks have been the longest, uninterrupted stretch of sub-$2/MMBtu prices for the prompt-month NYMEX contract in the last 20 years. The next longest was 38 days between February 11, 2016 and April 6, 2016. David Thompson, executive vice president at Washington-based brokerage Powerhouse, identified Friday’s intraday high of $2.016/MMBtu as the critical resistance level for the contract. “If we can punch […]