May expires in the heart of its trading range

Natural gas prices finished higher today after Monday’s huge intraday surge. The expiring May contract saw very light trading action, but peaked at $1.92 during the morning. Midday selling pressure as traders finalized positions brought the prompt month to near $1.80 by the afternoon settle. The much more heavily-traded June contract crossed the $2.00 level early on, then drifted lower though still finished ahead.