Leticia Gonzales

September natural gas prices were about as exciting as a paint-drying viewing party Monday as traders still had last week’s low storage injection fresh on their minds even as weather guidance was expected to turn cooler as the week progresses. Spot gas prices were mostly higher as hot weather returned to key demand regions early in the week. The NGI National Spot Gas Average rose 22 cents to $3.19.

September natural gas prices were about as exciting as a paint-drying viewing party Monday as traders still had last week’s low storage injection fresh on their minds even as weather guidance was expected to turn cooler as the week progresses. Spot gas prices were mostly higher as hot weather returned to key demand regions early in the week. The NGI National Spot Gas Average rose 22 cents to $3.19.

September natural gas prices were set to open roughly 2 cents higher at around $2.835 as the market continues to digest the third straight bullish storage injection reported by the Energy Information Administration (EIA).

If you’re looking to the natural gas futures strip for any meaningful price action — which should be a given considering the sweltering summer weather, low storage inventories and relatively stagnant production — you’ll need to look elsewhere.

September natural gas posted two consecutive days of solid gains, climbing 3.7 cents Friday to $2.853, as traders continued to react to the latest storage data, which reflected persistent deficits and potential end-of-season inventories that appear to be trailing many earlier market estimates.

Weekly prices were mixed after weather forecasts trended hotter for the coming days after heavy rains doused demand in key markets earlier in the week. Solid gains in the futures market also lent support to cash prices late in the week, lifting weekly prices at the majority of points. Still, a dramatic plunge off record highs in southern California sent NGI’s Weekly National Spot Gas Average down 6 cents to $2.87/MMBtu.

September natural gas posted another day of solid gains, climbing 3.7 cents Friday to $2.853, as traders continued to react to the latest storage data, which reflected persistent deficits and potential end-of-season inventories that appear to be trailing many earlier market estimates.

If you’re looking to the natural gas futures strip for any meaningful price action — which should be a given considering the sweltering summer weather, low storage inventories and relatively stagnant production — you’ll need to look elsewhere.

After yet another surprising natural gas storage report, September futures finally broke out of their recent trading range, climbing as much as 7 cents higher during intraday trade before easing just slightly into the close. The Nymex September futures contract settled 5.8 cents higher at $2.816.