Amid signs of supply weakness, natural gas futures extended their recent gains in early trading Friday. Coming off a 10.5 cent rally a day earlier, the April Nymex contract was up another 9.0 cents to $4.721/MMbtu at around 8:55 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Updated data indicating a day/day drop in domestic production was the likely source of upward pressure for natural gas prices in early trading, according to Bespoke Weather Services. 

“We continue to be surprised by the lack of gains, though today’s decline could be aided by the cold plunge into the Rockies and Texas, enough to lead to some minor freeze-offs,” Bespoke said. “This will be brief, if so, but confidence is lower, given that there simply has not been much recovery thus far.”

In terms of the weather forecast, Bespoke...