Natural gas futures continued to peel back midweek as production ticked higher and export demand retreated. Staring down a softer storage injection week/week, traders sent the May Nymex futures contract down another 3.5 cents to $2.692. June slipped 2.7 cents to $2.776.

Storage 041621

Spot gas prices also declined across most of the country, but dollar-plus gains in the Northeast helped to lift NGI’s Spot Gas National Avg. up 4.0 cents to $2.690.

Though the weather data has maintained a chilly outlook through April 27, the warm-up expected thereafter may be starting to pressure prices. NatGasWeather said the midday Global Forecast System weather model was a little chillier later this weekend and early next week as cool air is expected to linger across the northern United States slightly...