• Liquefied natural gas levels topped 11.6 Bcf
  • Production held steady around 90 Bcf
  • Cash declined, led lower by hubs in the West

Natural gas futures rebounded on Friday, as traders absorbed a favorable storage report, continued robust export activity and the specter of stronger cooling demand on the near-term horizon.

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The June Nymex contract gained 3.0 cents day/day and settled at $2.958/MMBtu. July rose 3.0 cents to $3.004.

NGI’s Spot Gas National Avg. shed 1.5 cents to $2.690, led lower by losses in Texas and in the West.

The prompt month had stumbled the two prior sessions amid profit taking. However, traders returned their focus on Friday to a strong fundamental undercurrent of steady production around 90 Bcf/d – still below pre-pandemic highs – and strong export...