Natural gas futures faltered on Friday amid dubious midrange weather outlooks and increased production, ending a three-day win streak.

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At A Glance:

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

The December Nymex contract settled at $5.516/MMBtu, down 20.0 cents day/day. January fell 20.0 cents to $5.626.

NGI’s Spot Gas National Avg. dropped 37.0 cents to $5.115.

Bespoke Weather Services said models that had earlier in the week pointed to widespread cold by mid-November were less convincing by Friday. A blast of freezing temperatures in the second half of the month remained possible, according to forecasts, but it appeared less likely by the close of the trading week.

“We know price action at this point in the year will be driven...