Following a loss last week, natural gas futures bounced back on Monday as traders mulled reports of robust power burns and lighter production. The June Nymex contract gained 29.3 cents day/day and settled at $7.956/MMBtu. July rose 28.8 cents to $8.053.

midwest gas market

At A Glance:

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

The prompt month had closed lower Friday and shed 5% the past week.

NGI’s Spot Gas National Avg. jumped 41.5 cents to $7.740 on Monday, with stout gains across most regions of the Lower 48.

Production dipped slightly below 95 Bcf to start Monday after climbing above that threshold briefly last week, according to Bloomberg’s estimate. Output remained well below the 97 Bcf peak of the past winter, amplifying already simmering...