Natural gas futures fluctuated Friday, posting an early double-digit gain before dropping deep in the red by midday amid profit-taking to close out the week. The June Nymex gas futures contract ultimately settled at $7.663/MMBtu, down 7.6 cents day/day. July declined 7.0 cents to $7.765.

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At A Glance:

  • Traders take profits to close week
  • Cooling demand in South continues
  • Calls for LNG exports to mount

Following a topsy-turvy stretch in physical markets, NGI’s Spot Gas National Avg. gained 13.0 cents to $7.325.

For all the see-saw action in trading – a common occurrence in recent weeks – analysts said fundamentals point to upward pressure on prices heading toward summer.

Weather demand, while characteristically uneven in May, leans bullish overall, forecasters said....