Jeremiah Shelor

Natural gas futures continued their recent slide Tuesday as strong production and cooler weather trends conspired to help drag down prices. In the spot market, more volatility in Southern California and retreating prices in the Northeast headlined a day of generally small adjustments; the NGI National Spot Gas Average gave back a penny to finish at $2.74/MMBtu.

August natural gas futures were set to open Monday about 1.6 cents higher at around $2.768/MMBtu as forecasters pointed to mixed changes in the weather data over the weekend, including the prospect of less long-range cooling.

Natural gas futures traded on either side of $2.75 Monday as the market continued to see production offsetting storage deficits. Near-term heat sent spot prices higher in Southern California, while Appalachian locations benefited from the return of Leach XPress capacity; the NGI National Spot Gas Average gained 7 cents to $2.75/MMBtu.

Natural gas futures traded on either side of $2.75 Monday as the market continued to see production offsetting storage deficits. Near-term heat sent spot prices higher in Southern California, while Appalachian locations benefited from the return of Leach XPress capacity; the NGI National Spot Gas Average gained 7 cents to $2.75/MMBtu.

August natural gas futures were set to open slightly lower Friday at around $2.793/MMBtu, with production and forecasts showing a let-up in heat across key markets that were keeping bears in control despite storage deficits.

The U.S. rig count inched higher during the week ended Friday, thanks to a small uptick in natural gas-directed drilling, though activity was flat in the largest gas-focused onshore plays, according to data from Baker Hughes Inc. (BHI).

Two natural gas-directed rigs returned to action in the United States during the week ended Friday as oil activity held steady, according to data from Baker Hughes Inc. (BHI).

Natural gas futures bulls gave up more ground Friday as production continued to allay the market’s storage concerns. Spot prices fell throughout the Midwest with cooler temperatures in the forecast, while the volatile SoCal Citygate gained heading into the weekend; the NGI National Spot Gas Average dropped 3 cents to $2.68/MMBtu.

The natural gas spot market for the week ended Friday featured rising prices in toasty Southern California and discounts along the opposite coast thanks to some more moderate temperatures in the East; the NGI Weekly National Spot Gas Average finished unchanged at $2.70/MMBtu.