• A higher-than-expected storage injection weighed down futures
  • Weak weather-driven demand persisted for another session
  • LNG volumes held strong, but so too did production

Weak weather-driven demand and a higher-than-expected storage injection weighed down natural gas futures on Thursday. The December Nymex contract shed 12.0 cents day/day and settled at $2.592/MMBtu. January fell 11.8 cents to $2.720.

EIA storage Nov 13

NGI’s Spot Gas National Avg. declined 4.5 cents to $2.125.

After weather models shifted cooler earlier in the week, they reverted back to a warmer outlook for the rest of November, pointing to weak heating demand nationally, forecasters said.

“Our official outlook is shifted warmer” by a total of four gas-weighted degree days (GWDD), Bespoke Weather Services said...