The June futures contract slid a fraction of a penny to close in the low $2.80s per million Btu Friday but was able to hold on to Thursday's 2.8% gain following a storage build that was below expectations. The shoulder season's spring nuclear maintenance and refueling continues to wrap up. The amount of gas needed if it were to replace offline capacity averaged 3.4 Bcf/d this week, down from 3.9 Bcf/d the prior week. Meanwhile, Baker Hughes said the number of lower 48 gas-focused rigs was up three at 199 (Rig count).
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