• Widespread heat not yet showing up in weather models
  • Latest EIA stat sets stage for near triple-digit builds in weeks ahead
  • Cash slides as tropical activity being monitored in GOM

A rise in production and the sting of bearish storage data sent natural gas futures prices another leg lower on Friday. The June Nymex gas futures contract closed the week at $2.906, off 1.9 cents day/day. July slipped 1.4 cents to $2.977.

markets

Spot gas prices also softened across most of the United States, with early tropical activity dampening demand along the Gulf Coast. Though East Coast markets firmed a bit ahead of a coming heat wave, NGI’s Spot Gas National Avg. fell 4.5 cents to $2.645.

With the expected burst of heat arriving in the East forecast to be short lived, and weather models trimming...