Natural gas futures advanced Wednesday, rebounding from a two-day slump, as hints of late-March cold and lingering global supply issues caught traders’ attention. The April Nymex gas futures contract climbed 18.0 cents day/day and settled at $4.748. May rose 16.7 cents to $4.784.

storage

At A Glance:

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

NGI’s Spot Gas National Avg. ticked up 9.0 cents to $4.165.

Weather models continued to show pleasant conditions – and modest heating demand – for the second half of March. However, forecasts advertised somewhat chillier air developing near the end of the month, according to NatGasWeather.

The pattern over the next 12 days remained “exceptionally warm and bearish” in the latest model runs,...