Natural gas futures finally found their footing in the final hour of trading Thursday after an unusual government inventory report that left traders scratching their heads. Lower export levels and forecasts pointing to less heat next week also weighed on prices, but outlooks for strong demand next month on both fronts provided a late boost.

EIA storage june 11

At A Glance:

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

The July Nymex contract settled at $3.253/MMBtu, up two-tenths of a cent day/day. It traded in the red most of the day but rebounded late to claw back into the green. August rose four-tenths of a cent to $3.275.

Amid intense heat in the West, NGI’s Spot Gas National Avg. on Thursday climbed 1.0 cent to $3.135.

The U.S. Energy Information...