Following erratic trading early, natural gas futures rallied for a third consecutive session Thursday on the heels of a moderately bullish storage print and forecasts for ongoing heat in near-term weather patterns. The June Nymex gas futures contract settled at $7.739/MMBtu, up 9.9 cents day/day. July gained 10.8 cents to $7.835.

At A Glance:

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

In a volatile week for physical prices, however, NGI’s Spot Gas National Avg. shed 11.0 cents to $7.195.

Bespoke Weather Services said Thursday that total gas-weighted degree days for the coming two weeks were forecast to be above normal.

“Southern heat is still the focus heading into this weekend and early next week, with the risk of 100-degree...