Natural gas futures on Tuesday bounced back from punishing losses the two previous sessions, as traders assessed choppy domestic production levels and new threats to global supplies amid reports of Russian forces interrupting flows to Europe.

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At A Glance:

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

The June Nymex gas futures contract settled at $7.385/MMBtu, up 35.9 cents day/day. It marked a stark reversal after the prompt month dropped nearly $2.00 over the two prior regular sessions. July advanced 36.1 cents on Tuesday to $7.467.

NGI’s Spot Gas National Avg., however, posted a hefty loss for a third straight day, falling 72.5 cents to $6.510.

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