At A Glance:

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

Natural gas futures flipped lower Thursday, snapping a modest two-day winning streak after the latest government inventory data confirmed robust supplies heading into the shoulder season and forecasts pointed to benign weather through most of April. Cash prices slid in tandem.

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The May Nymex gas futures contract shed 14.4 cents day/day and settled at $2.011/MMBtu. June lost 14.3 cents to $2.238.

NGI’s Spot Gas National Avg. fell 33.5 cents to $2.285.

NatGasWeather said forecasts were “exceptionally bearish April 10-19 as much of the U.S. warms into the very comfortable 60s to 80s for larger-than-normal builds” as storage injection season is expected to soon commence. This...