Natural gas futures posted a steep weekly loss following massive back and forth swings driven by shifts in broad market sentiment. Typical fundamental drivers such as production, storage, and weather appear to have taken a backseat as market drivers, as prices have corrected significantly across the curve from the March highs. Storage inventories increased by 57 Bcf during the week ended April 4, continuing to eat into the deficit. Meanwhile, production remains stagnant and LNG exports continue to set new record highs.
