Natural gas futures rebounded early Wednesday, as liquefied natural gas (LNG) levels bounced back and reassured markets of robust export demand. Still, bearish tilts in domestic weather outlooks and estimates for a higher storage injection put downward pressure on futures in afternoon trading.

At A Glance:

  • LNG feed gas bounces back
  • Weather outlooks shift cooler
  • Storage injection likely to be next catalyst

The August Nymex contract ultimately fell 3.6 cents day/day and settled at $3.660/MMBtu on Wednesday. The prompt month had shed 5.3 cents a day earlier. The September contract slipped 3.4 cents on Wednesday to $3.648.

NGI’s Spot Gas National Avg. moved sideways through most of the day, finishing up 2.0 cents to $3.635.

While demand this week is holding strong,...