Natural gas futures rebounded on Monday, bolstered by lower production readings and trader positioning ahead of the front-month contract’s expiration.

At A Glance:

  • NGI models 84 Bcf draw 
  • Production at 103 Bcf/d
  • Weather demand evades

Coming off back-to-back losses to close out the prior week, the March Nymex gas futures contract settled at $1.659/MMBtu, up 5.6 cents day/day. It reached an intraday high of $1.730. The April contract, which takes over as the prompt month on Wednesday, gained 4.5 cents to $1.744.

NGI’s Spot Gas National Avg. shed 8.0 cents to $1.370 amid price retreats in the Northeast.

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