Natural gas futures finished out the short week far quieter than only one day prior. After prices took a beating on verification that an outage at a key export terminal could drastically improve balances, the July Nymex gas futures contract settled on Friday at $6.220/MMBtu, only 1.9 cents lower day/day.

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At A Glance:

  • Salt withdrawal still supportive
  • Production growth lagging estimates
  • Cooling demand set to decline

Spot gas prices also continued to peel back amid moderating temperatures in several parts of the country. NGI’s Spot Gas National Avg. dropped 41.5 cents to $5.980.

Despite persistent forecasts calling for easing heat throughout the coming week, which could have led to another sharp sell-off, traders appeared content to take a breather on Friday after the...