Following erratic trading early, natural gas futures rallied for a third consecutive session Thursday on the heels of a moderately bullish storage print and forecasts for ongoing heat in near-term weather patterns. The June Nymex gas futures contract settled at $7.739/MMBtu, up 9.9 cents day/day. July gained 10.8 cents to $7.835.

At A Glance:

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

In a volatile week for physical prices, however, NGI’s Spot Gas National Avg. shed 11.0 cents to $7.195.

Bespoke Weather Services said Thursday that total gas-weighted degree days for the coming two weeks were forecast to be above normal.

[Get Better Intel: Where are natural gas prices in Canada heading in the next few years? NGI’s Forward Look now...