After steep drops the three prior sessions, natural gas futures bounced back Thursday, as traders digested a bullish inventory report – relative to historic norms – that reminded how strong demand proved over the bulk of summer.

At A Glance:

  • Production at 96.5 Bcf/d
  • Uneven weather outlook
  • Storage situation improves

The October Nymex gas futures contract climbed 7.3 cents day/day and settled at $7.915/MMBtu. November gained 7.0 cents to $7.971.

NGI’s Spot Gas National Avg., however, shed 11.5 cents to $7.810.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 54 Bcf natural gas into storage for the week ended Sept. 2. The print came in roughly on par with expectations found by major polls, but it fell shy of the five-year average...