US natural gas futures remained range-bound last week as bullish and bearish fundamentals battled it out. But the lackluster performance may be flagging some changes ahead. The June contract spent the week settling in the low $2.60s/MMBtu, gaining a little over a penny in five sessions. But more importantly it continued an eight-week trend in which “prices have rallied only to succumb to selling that would take prices back down to test support, but that support seems to come in higher and higher each time,” said EcomEnergy analyst Willis Bennett.
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