Natural gas futures roared back midweek as export demand rose sharply following maintenance and production dipped lower for the second straight day. The July Nymex gas futures contract surged 7.5 cents day/day to $3.333. The August contract picked up 7.5 cents to $3.352.

EIA storage june 18

At A Glance:

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

Spot gas increases also became more widespread ahead of warmer weather on the East Coast. However, big losses in California left NGI’s Spot Gas National Avg. unchanged at $3.095.

There continued to be small changes to the long-range weather outlook on Wednesday. However, the pattern was still expected to result in relatively light demand east of the Plains for the next few days, according to...