I just checked the futures and the natural gas price in the United States closed higher today. The May contract on NYMEX rose 1.4% to $2.647 per million BTU. Nothing extraordinary in terms of movement, but what’s interesting is what this could mean.

A Pinebrook Energy Advisors analyst commented something that caught my attention: considering that we are in spring with mild weather, you would normally expect a sharper decline in the gas price. The fact that we haven't seen a more pronounced correction suggests that the market is losing strength. Basically, buyers are not pushing as hard as they should be at this time of year.

What comes next is key. The inventory reports coming out next week could be decisive, as a significant increase in storage levels is expected. That could exert more downward pressure if confirmed. Something to watch.