After three days in the green, natural gas futures’ rally finally came to a halt on Friday as the pressure from lackluster weather-driven demand and notably improved supplies proved too much to overcome. The Nymex November contract closed out the week at $6.748/MMBtu, off 22.4 cents on the day. December futures slid 19.5 cents to $7.047.

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

Spot gas prices plunged on Friday with the typical lull in weekend demand pulling prices sharply lower across the Lower 48. NGI’s Spot Gas National Avg. dropped 71.5 cents to $5.475.

The downside for futures was not surprising given the slew of unsupportive fundamentals in play. On Friday, traders were still digesting the latest inventory data...