With traders expected to jockey for position ahead of an extended Juneteenth holiday weekend that could introduce a pivotal shift in the summer temperature outlook, natural gas futures traded both sides of even early Friday. The July Nymex contract was up 1.8 cents to $7.482/MMBtu at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

The July contract retreated from intraday highs around $8.00 Thursday. EBW Analytics Group senior analyst Eli Rubin pointed to “net bearish” revisions to Energy Information Administration (EIA) storage data and declines in the Dutch Title Transfer Facility benchmark as contributing to the reversal.

“Daily fundamental indicators appear relatively unchanged, with stable weather, consistent production readings” and steady liquefied natural gas (LNG) feed gas demand...