After choppy trading, natural gas futures slipped firmly into the red after the latest weather model dropped a decent chunk of projected demand from the 15-day forecast. The September Nymex gas futures contract settled Friday at $8.064/MMBtu, down 5.8 cents day/day. October futures fell 6.3 cents to $8.051.

At A Glance:

  • Weather models converge in cooler outlook
  • Production hovering near all-time highs
  • Wet forecast sinks spot gas prices

Spot gas prices declined across most of the country. The only gains were modest and sprinkled throughout the Lower 48. NGI’s Spot Gas National Avg. lost 12.0 cents to $8.045.

Though 90-degree highs were hanging on across the South Central and southeastern United States, the latest weather data showed cooler temperatures in store for the East...