Natural gas futures advanced for a fourth consecutive session on Wednesday, with traders sharpening their collective focus on leaner production and recovering LNG export levels. These bullish factors countered weakening weather-driven demand and stout supplies in storage.

At A Glance:

  • Fourth straight prompt month gain
  • Analysts anticipate modest injection
  • Production hovers around 98 Bcf/d

The May Nymex gas futures contract on Wednesday settled at $1.885/MMBtu, up 1.3 cents day/day.

NGI’s Spot Gas National Avg. lost ground for the first time this week. It shed 3.0 cents to $1.315, with weakness in West Texas the principal culprit.

Production clocked in at 98.1 Bcf/d, down about 2.5 Bcf/d from the previous 30-day average and off 3 Bcf/d from the year earlier 30-day...