Trane: "Despite Bullish Factors, Gas Bears Hanging Tough"

The natural gas bears simply won’t give in.  Since settling at a 2017 high of $3.424 per MMBtu on May 12, the prompt-month NYMEX natural gas contract has fallen nearly $0.50 per MMBtu and is currently trading under the $3.00-per-MMBtu level.  Forecasts for summer heat, stagnant production growth, and growing levels of exports have yet to wrestle momentum to the side of the bulls as traders concentrate on a milder May and early June and strong storage injections.