• June Nymex recovers early, holds gains as storage deficit seen widening
  • Year/year comparisons extremely favorable for coming months
  • Pipeline maintenance kicks into high gear

It took one day, but it appeared to have finally dawned on natural gas futures traders that the latest storage data was bullish after all. Though gains were small on Friday, the June Nymex gas futures contract recovered 2.0 cents day/day to settle at $2.931. The July contract ticked up 1.7 cents to hit $2.978.

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Spot gas prices, however, continued to retreat amid the mostly mild weather pattern expected across the country for the next few days. NGI’s Spot Gas National Avg. slipped 7.5 cents to $2.605.

Thursday’s Energy Information Administration (EIA) storage data made a lot of headlines after the...