Natural gas futures trended lower again Tuesday, following a holiday weekend in which production estimates climbed and maintenance work curbed flows of U.S. exports. The July Nymex gas futures contract settled at $8.145/MMBtu, down 58.2 cents on the day, after a 16.8-cent sell-off on Friday. August fell 57.4 cents to $8.138.

Forward Prices

At A Glance:

  • Production at 96.5 Bcf/d
  • Uneven weather outlook
  • Storage situation improves

NGI’s Spot Gas National Avg. went the opposite direction and gained 25.5 cents to $8.105 amid favorable weather conditions early in the week.

Production topped 96 Bcf on Tuesday, hovering around a high for the year after a lackluster spring. Output was up more than 1.0 Bcf from late last week. U.S. liquefied natural gas (LNG) volumes, meanwhile, dipped to around 12...