Natural gas futures squeezed out another gain Tuesday, building a three-day rally formed on bargain buying and continued amid production interruptions. But concerns about weak demand through May and potentially into next month emerged anew, keeping bulls’ parade relatively modest.

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At A Glance:

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

The June Nymex gas futures contract settled at $2.267/MMBtu on Tuesday, up 2.9 cents day/day. July rose 1.5 cents to $2.427. The prompt month had advanced 10.1 cents in the previous session after notching a smaller gain last Friday.

NGI’s Spot Gas National Avg. slid 4.0 cents to $1.775 as weather-driven demand waned.

National Weather Service (NWS) mid-range forecasts showed several rounds of rain and...