Natural gas futures started the new week as they finished the last – comfortably in the red. Amid mild weather and modest cooling demand, the July Nymex gas futures contract on Tuesday fell 9.0 cents day/day and settled at $2.327/MMBtu. August lost 8.9 cents to $2.416.

Storage Estimates

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. gained 33.0 cents to $1.910, recovering ground after losses a week earlier.

The July contract’s first regular session at the front of the futures curve resembled the finish posted by its predecessor. The June contract rolled off the books last Friday after a 12.6-cent loss. It dropped 16% over the course of last week, hindered by steady production volumes above 100 Bcf/d, stout...