Natural gas markets felt the pressure of soft shoulder season fundamentals through midday trading Monday. Pleasant April weather, sagging export volumes and the continued inversion of the West Texas spot market contributed to a bearish outlook.

Here’s the latest:

  • May Nymex futures down 9.0 cents to $1.680/MMBtu as of 2:17 p.m. ET
  • Flows to U.S. LNG terminals down to 10.93 million Dth/d for Monday, according to NGI’s LNG Export Tracker
  • Sabine Pass volumes off around 420,000 Dth/d versus Friday’s flows
  • Deliveries to Freeport at 125,607 Dth, or 5% capacity utilization, data show

Gelber & Associates analysts on Monday pointed to the apparent liquefied natural gas demand weakness as an influence on recent price action. “The LNG picture continues to be gloomier than recent...