Jeremiah Shelor

Bears tightened their grip on the natural gas futures market Tuesday, sending prices lower as production continues to overshadow summer heat and storage deficits. Spot prices backed off Monday’s gains, including sharp declines in California and the Northeast coinciding with forecasts for less intense heat; the NGI National Spot Gas Average dropped 8 cents to $2.66/MMBtu.

August natural gas futures were set to open Monday about 0.7 cents lower at around $2.851/MMBtu as forecasters continue to watch for longer-term cooling despite some impressive heat over the next two weeks.

The Supreme Court of Virginia has once again upheld a controversial state law allowing natural gas companies to survey on private property without the landowner’s permission under certain conditions, another legal victory for the oft-challenged Atlantic Coast Pipeline LLC (ACP) as it works to finish construction and enter service next year.

Natural gas futures retreated Monday as forecasts failed to offer up enough heat to impress a market mindful of surging production. Hot temperatures to start the week drove up spot prices along the East Coast and in Southern California; the NGI National Spot Gas Average jumped 14 cents to $2.74/MMBtu.

Natural gas futures retreated Monday as forecasts failed to offer up enough heat to impress a market mindful of surging production. Hot temperatures to start the week drove up spot prices along the East Coast and in Southern California; the NGI National Spot Gas Average jumped 14 cents to $2.74/MMBtu.

The United States added five rigs — all oil — during the week ended Friday, including an uptick in drilling activity in the Williston Basin, according to data from Baker Hughes Inc. (BHI).

The number of domestic natural gas-directed rigs held flat at 187 for the week ended Friday as an uptick in oil activity drove the overall U.S. count higher, according to data from Baker Hughes Inc. (BHI).

Natural gas futures bulls gained back some ground Friday after taking it on the chin earlier in the week, even as a slight bearish miss from government storage data appeared to offer little in the way of support.

A heat wave in Southern California helped drive natural gas spot prices higher on average for the week ended Friday, even as points throughout the Gulf Coast slid along with declines in futures; theNGIWeekly National Spot Gas Average added 8 cents to $2.70/MMBtu.