Natural gas futures recovered some ground Thursday following a bullish storage inventory report. In its debut at the front of the Nymex curve, the August futures contract brushed a slew of near-term bearish factors and climbed 3.3 cents to $2.701/MMBtu.

At A Glance:

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

Spot gas prices, meanwhile, continued to slide ahead of the long holiday weekend. NGI’s Spot Gas National Avg. tumbled 19.5 cents to $2.495.

After two days in the red, Nymex futures were poised to extend the streak based on trading early Thursday. The August contract touched a $2.616 intraday low before the latest storage data was published.

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