Commodities
US Natgas Futures Rise Amid Milder Weather and Pipeline Constraints
Natural gas futures rose to a one-week high on Tuesday as preliminary data showed daily production decreased, despite forecasts for milder weather and lower demand.
Average gas output in the US Lower 48 states rose to 111.2 billion cubic feet per day (bcfd) so far in April, up from 110.4 bcfd in March, but on a daily basis, gas output was on track to drop by around 3.0 bcfd over the past two days.
The Waha Hub in West Texas remained in negative territory for a record 42 days in a row as pipeline constraints continued to trap gas in the Permian region, the nation's biggest oil-producing shale basin.