Natural gas prices firming up

[dan_s]

The crude oil complex traded in a mixed fashion during the Tuesday morning hours. Early support in the market came from positive economic data flow out of Germany, then from gains in global equity markets. Mid-day reports indicated that the Seaway Pipeline flows would average 295,000 barrels per day into May, compared to initial estimates of 400,000 barrels per day, might have put some pressure on WTI prices into the mid-session. The laggard within the crude oil complex this morning was April heating oil, which was down more than 1% and into a new seven day low at midday. March natural gas prices were up more than 3.5% this morning, supported by colder weather forecasts and an above normal level of offline US nuclear capacity.