August Nymex natural gas futures faltered Wednesday, snapping a furious rally that dated to last week amid robust cooling demand and global supply worries. The prompt month gas futures contract settled at $8.687/MMBtu, down 30.6 cents day/day. September fell 27.1 cents to $8.554.

At A Glance:

  • Nymex gas trading proves volatile
  • Weather-driven demand holds strong
  • September takes over as prompt month

NGI’s Spot Gas National Avg. followed suit, dropping 60.5 cents to $8.570.

The August contract expired at the close Wednesday following volatile trading over its final two sessions at the front of the curve. Volatility is common ahead of expiry. Still, analysts said the demand drivers that had sent futures to the doorstep of a $9.00 settle on Tuesday remain firmly intact. These...