Jeremiah Shelor

Price blowouts in Southern California headlined natural gas spot trading for the week ended Friday, while more comfortable temperatures helped send prices lower throughout the Midwest and East; theNGIWeekly National Spot Gas Average added 2 cents to $2.72.

Natural gas futures pulled back slightly during an uneventful session Friday, with prices stable one day after rallying on bullish government storage data. In the spot market, the mercurial SoCal Citygate extended its run higher ahead of more heat expected in California, while points throughout the Gulf Coast and Texas saw modest gains; the NGI National Spot Gas Average added 3 cents to $2.71/MMBtu.

August natural gas futures were set to open Thursday slightly lower at around $2.717/MMBtu, with the market turning its attention to the upcoming release of government storage data, which is expected to show an expanding year-on-five-year deficit despite record-level production.

A bullish surprise from the Energy Information Administration’s (EIA) weekly natural gas inventory report served up a clear reminder that even as production growth has dominated the market’s thinking as of late, it hasn’t made a dent in storage deficits — yet.

Not quite a wake-up call, but government storage data showed an injection well below expectations Thursday, shaking up the natural gas futures market and prompting a rally as bearish production took a backseat for at least one session.

Not quite a wake-up call, but government storage data showed an injection well below expectations Thursday, shaking up the natural gas futures market and prompting a rally as bearish production took a backseat for at least one session.

August natural gas futures were set to open Wednesday near even at around $2.746/MMBtu as forecasters noted generally minor adjustments to the weather outlook overnight.

The prospect of low stockpiles heading into the winter hasn’t bothered natural gas futures traders as of late, a trend that continued Wednesday as prices fell ahead of government storage data expected to show another leaner-than-average build. In the spot market, SoCal Citygate turned in another day of volatility, gaining big as most other regions pulled back; the NGI National Spot Gas Average dropped 4 cents to $2.70/MMBtu.

The prospect of low stockpiles heading into the winter hasn’t bothered natural gas futures traders as of late, a trend that continued Wednesday as prices fell ahead of government storage data expected to show another leaner-than-average build. In the spot market, SoCal Citygate turned in another day of volatility, gaining big as most other regions pulled back; the NGI National Spot Gas Average dropped 4 cents to $2.70/MMBtu.