Natural gas futures returned to their winning ways Wednesday, supported by strong southern cooling demand and languid production.

At A Glance:

  • Market sees low 90s Bcf injection
  • Consumption varies by region
  • Maintenance weighs on output

Coming off a 14.0-cent swoon on Tuesday – the first drop in six regular sessions – the July Nymex gas futures contract gained 10.5 cents day/day and settled at $2.597/MMBtu. August rose 10.7 cents on Wednesday and closed at $2.677.

NGI’s Spot Gas National Avg. shed 7.5 cents to $2.105 a day after jumping 20.5 cents.

Prompt month futures rallied 17% last week.

Bloomberg pegged production at 98.7 Bcf/d on Wednesday, up slightly from the start of the week on increases in the Haynesville Shale. However, after consistently exceeding the...