After a sharper nosedive early Tuesday, natural gas futures recovered most ground and finished the day less than 15 cents lower than Friday’s close. Weather models drove the morning losses while technicals fueled the rebound, ultimately leaving the July Nymex futures contract 13.6 cents lower at $6.808/MMBtu. August futures fell 12.3 cents to $6.783.

California Prices

At A Glance:

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

Spot gas prices also extended their losses coming back from the Juneteenth holiday. NGI’s Spot Gas National Avg. dropped 29.5 cents to $6.475.

With the news last week that feed gas demand is to remain stunted for several months following the explosion at the Freeport liquefied natural gas (LNG) facility, weather on Sunday moved to...