Natural gas futures teetered between gains and losses much of Monday as traders contrasted rising production and mild fall weather forecasts against strong demand for U.S. exports of liquefied natural gas (LNG). The December Nymex contract, however, ultimately settled at $5.427/MMBtu, down 8.9 cents day/day amid domestic demand weakness. January fell 12.1 cents to $5.505.

storage snapshot110521

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

NGI’s Spot Gas National Avg. shed 4.5 cents to $5.070. Comfortable weather permeated most of the Lower 48 to start the week, spurring relatively little heating or cooling demand.

Additionally, forecasts over the weekend were essentially unchanged from last Friday, leaving modest gas-weighted degree day...