June Nymex natural gas futures rally was squarely in the rearview as the contract slid through afternoon trade on Wednesday. Fundamentals failed to inspire additional gains, though risk remains to the upside.

Natural Gas Intelligence's (NGI) National Avg. midday natural gas price graph showing historical market volatility.

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Prompt month futures down 3.4 cents to $3.393/MMBtu as of 2:05 p.m. ET, after massive 31.4-cent single-day rally