At A Glance:

  • EIA prints 154 Bcf withdrawal 
  • Warmth to follow weekend cold
  • Production nears 98 Bcf/d

Seven proved to be the natural gas market’s lucky number on Wednesday. Nymex futures managed to overcome an early decline and extended their streak of consecutive gains another day. The August Nymex futures contract settled 2.0 cents higher day/day at $3.650. September edged up 1.8 cents to $3.624.

Spot gas prices, however, buckled across the United States ahead of a much cooler outlook for the East Coast and the Independence Day holiday. Temperatures in the Pacific Northwest, though set to remain hot, were expected to ease a bit. NGI’s Spot Gas National Avg. tumbled 47.0 cents to $3.610.

Wednesday’s gains along the Nymex futures curve did not come easy. The August...