Amid indications of recovering production levels, natural gas futures pared their recent gains in early trading Friday. Coming off a 36.8-cent rally in the previous session, the June Nymex contract was off 16.2 cents to $8.621/MMBtu at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Weather and production trends appeared less bullish heading into Friday’s trading, according to Bespoke Weather Services.

“Strictly in terms of the data, things are not as bullish this morning as they were the last couple of days, with the weather having stopped moving hotter over the last few model cycles, and production jumping back up to 94 Bcf/d,” Bespoke said.

The indication of supply gains in the latest data led the firm to shift its near-term outlook “back to neutral” early Friday.

However, “we would...