Natural Gas Market Talk | 05.02.2025

NYMEX natural gas prices reversed to the upside this week, gaining back a large percentage of the April losses. Near-term fundamentals remain soft, with mild weather still persistent across most of the country. Meanwhile, storage inventories flipped to a surplus to the five-year average for the first time since January. However, production is still stagnant and power generation demand is proving resilient despite much higher prices than last year.