Natural gas futures rallied through most of the week but gave up ground to close out trading Friday after forecasts shed some heat intensity for mid-June and calls for LNG remained relatively light. The July Nymex gas futures contract shed 9.8 cents day/day and settled at $2.254/MMBtu. August fell 10.3 cents to $2.331.

At A Glance:

  • Intensity of heat fades modestly
  • Market digests storage injection
  • LNG levels light amid maintenance

NGI’s Spot Gas National Avg. lost 21.0 cents to $1.700.

“The overnight data trended cooler, especially for June 15-17, as heat is slower to expand out of Texas and the South,” NatGasWeather said Friday.

At the same time, demand for liquefied natural gas, a key pillar for the past two years, stayed on hiatus through Friday because of...