Natural gas futures searched for direction for much of Monday as traders weighed weak near-term weather demand against looming summer heat and stagnant production. Ultimately, the prompt month retreated amid profit-taking, but analysts bet against a prolonged slump.

Graph and two charts showing Natural Gas Intelligence's (NGI) natural gas storage snapshot including market consensus estimates for inventory.

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At A Glance:

Production below 105 Bcf/dSummer demand on horizonNGI sees 103 Bcf storage build