With production light and demand steady, natural gas futures on Friday cruised higher for the fourth time in five sessions. The June Nymex gas futures contract settled at $7.244/MMBtu, up 35.6 cents day/day. July advanced 36.1 cents to $7.355.

midwest regional outlook

At A Glance:

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

NGI’s Spot Gas National Avg. shed 2.5 cents to $6.545, though prices were up across the Midwest amid a seasonally cool weather system that galvanized heating demand.

Routine spring maintenance work at various sites nationally, coupled with protracted interruptions in the northern Plains caused by a severe storm, kept output in check through the week. Production held more than 2 Bcf below 2022 highs, fueling bullish futures sentiment on...