December Natural Gas Futures Fall Further As Weather Worries Mount

• BREAKING: U.S. EIA reports a natural gas withdrawal of 36 Bcf from storage for the week ending Oct 30, exceeding market expectations
• Natural gas futures fell for a third consecutive day
• Weak weather demand eclipsed robust liquefied natural gas levels

Natural gas futures fell for a third consecutive day Wednesday as mild fall weather and its dampening effect on demand eclipsed robust liquefied natural gas (LNG) levels and overall tightened balances.

The December Nymex contract settled at $3.046/MMBtu, down 1.3 cents day/day. January fell 1.8 cents to $3.177.

Diminished near-term weather demand also dragged spot gas prices lower. NGI’s Spot Gas National Avg. shed 28.0 cents to $2.345.

LNG feed gas volumes hovered close to 2020 highs around 10 Bcf Wednesday, as U.S. export...