Natural gas futures hovered in a narrow range early Friday before creeping lower and ultimately finishing firmly in negative territory, as traders determined the prior day’s nearly 80-cent rally was overcooked. The August Nymex gas futures contract settled at $6.034/MMBtu, down 26.3 cents day/day. September shed 29.5 cents to $5.967.

market

At A Glance:

  • Markets mull EIA storage prints
  • Bullish weather patterns projected
  • LNG demand remains elevated

NGI’s Spot Gas National Avg., meanwhile, gained 15.0 cents to $6.055 as near-term demand was expected to hold strong through the weekend.

Thursday’s futures surge ended a three-week bear market that developed in the wake of an explosion and fire at a liquefied natural gas (LNG) facility in Texas. The Freeport LNG mishap forced...