The natural gas futures market shrugged off a bearish government inventory report and flew higher Thursday amid robust demand for U.S. exports, extending a rally to four straight sessions. The April Nymex gas futures contract climbed 16.9 cents day/day and settled at $5.401/MMBtu. May rose 17.2 cents to $5.446.

Mar24 market

At A Glance:

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

NGI’s Spot Gas National Avg. slipped 4.0 cents to $4.700.

Domestic fundamentals provided little ammunition to ignite a rally, with production below 95 Bcf and forecasts on Thursday pointing to modest weather-driven demand.

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“Overall, we...