• Production levels held strong and weather worries persisted
  • But LNG volumes held steady to prop up demand
  • Spot prices rebounded after three days of losses

Despite strong production levels and festering weather worries, natural gas futures recovered some ground on Friday, as traders saw a buying opportunity after the prompt month shed 12 cents a day earlier and reached its lowest level of the fall months.

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Futures have in November struggled to maintain momentum amid forecasts for unseasonably warm weather, bearish storage injections and a recovery in Lower 48 production that has offset solid demand for liquified natural gas (LNG) exports. New restrictions to combat coronavirus spread that could diminish energy demand from the industrial sector has infused additional...