At A Glance:

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

Natural gas futures edged up early Wednesday as traders mulled an increasingly hot June forecast against a projected hefty storage build. Though briefly moving into the red, the July Nymex gas futures contract settled Wednesday at $3.129, up a mere one-tenth of a cent on the day. August climbed four-tenths of a cent to $3.144.

Spot gas prices were mixed as cooler weather hit the East Coast, while areas along the Gulf Coast continued to bake. NGI’s Spot Gas National Avg. slipped 7.5 cents to $2.870.

With liquefied natural gas (LNG) feed gas demand still rather “uninspiring” because of ongoing maintenance, the current heat wave in Texas and along the Gulf Coast was the...