Natural gas futures rebounded on Friday, following three straight daily losses, as traders mulled the potential for paltry levels of stockpiles ahead of the withdrawal season later this year.

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

The August Nymex contract gained 6.0 cents day/day and settled at $3.674/MMBtu. September advanced 5.7 cents to $3.658.

NGI’s Spot Gas National Avg., however, fell 13.5 cents to $3.485, as next-day prices dropped in the Northeast ahead of an anticipated cool down.

The Energy Information Administration (EIA) on Thursday reported an injection of 55 Bcf into U.S. natural gas storage for the week ended July 9. The result exceeded expectations for a build in the upper 40s Bcf, and it also...