Leticia Gonzales

A notable decline in natural gas production did nothing to deter bears who took back control of the market on Tuesday. With weather models remaining at odds over the intensity and duration of an expected heat wave later this month, the July Nymex gas futures contract fell 5.8 cents to settle at $2.328. August dropped 6.2 cents to $2.311.

In a sign that Thursday’s 6.1-cent decline was a bit overdone, natural gas futures recovered all of those losses — plus a penny — on Friday. The July Nymex gas futures contract rose 6.2 cents to settle at $2.387. August climbed 5.9 cents to $2.381.

Oil and natural gas midstream giant Williams can “hit the ground running” expanding its capital spending in the Northeast after completing a $3.8 billion joint venture (JV) with Canada Pension Plan Investment Board (CPPIB).

Natural gas futures stalled Monday even as production data trended higher over the weekend. With weather models maintaining a hotter-than-normal period during the last third of the month, the July Nymex gas futures contract slipped one-tenth of a cent to $2.386/MMBtu. August fell 0.8 cents to $2.373.

Coming off the largest decline of the year, natural gas futures prices bounced early Friday as overnight long-range weather models shifted a little hotter. Perhaps in a sign that Thursday’s sell-off also was a bit overdone, the July Nymex gas futures contract was trading 2 cents higher at $2.345 at 8:45 a.m. ET.

A sixth consecutive triple-digit storage injection proved too much to bear for U.S. natural gas futures on Thursday. With weather models pushing back the timing of some expected heat, the July Nymex gas futures contract settled at $2.325, down 6.1 cents. August slipped 5.9 cents to $2.322.

Natural gas July forward prices rose a nickel on average, although uncertainty about long-term weather trends and current mild weather in most of the country left several markets in the red for the June 6-12 period, according to NGI’s Forward Look.

In a sign that Thursday’s 6.1-cent decline was a bit overdone, natural gas futures recovered all of those losses — plus a penny — on Friday. Driven in part by more supportive long-range weather forecasts, the July Nymex gas futures contract rose 6.2 cents to settle at $2.387. August climbed 5.9 cents to $2.381.

Mild weather gripped natural gas prices for the June 10-14 week, with a large weather system that swept across the central and northern United States holding temperatures down as far south as Texas and leading to widespread losses. But with record-breaking heat suffocating the West Coast and leading to much higher prices in that region, the NGI Weekly Spot Gas National Avg. rose 3.5 cents to $1.99.