After a brutal slashing, natural gas bulls licked their wounds and managed to churn out a respectable rebound along the natural gas futures curve to close out the week. The August Nymex futures contract settled Friday at $5.730/MMBtu, up 30.6 cents on the day. September futures climbed 32.0 cents to $5.712.

market

At A Glance:

  • Market still cautious about supply
  • July forecasts still plenty hot
  • Weak holiday demand sinks cash

Cash prices continued to decline, however, amid a soggy forecast for the Independence Day holiday weekend. NGI’s Spot Gas National Avg. plummeted 77.0 cents to $5.460.

The fireworks show in futures trading was bright throughout Friday’s session, with the August contract coming within a nickel of the $6.00 mark early before bears trimmed some of those...