Natural gas futures on Wednesday soared more than 10 cents early, then retreated into negative territory before flattening out and edging back up at the close of trading. The roller coaster action developed amid a decline in production and estimates for a relatively light storage increase, as well as an evolving weather picture and the potential for a hurricane.

EIA storage Aug 26

At A Glance:

  • BREAKING: The U.S. E.I.A. reported a 29 Bcf injection for the week ending Aug. 20, surprising far to the downside and catapulting natural gas futures above $4.00/MMBtu
  • September Nymex ticked up one-tenth of a cent day/day and settled at $3.897/MMBtu, following a 4.9-cent drop a day earlier

The September Nymex contract ticked up one-tenth of a cent day/day and settled at $3.897/MMBtu, following a 4.9-cent...