• Production flat, but weather demand softens
  • Maintenance work keeps LNG levels in check
  • Cash prices decline amid rains and cooler temperatures

Natural gas futures fell for a second straight session on Wednesday as traders contemplated weather-driven demand uncertainty, a lull in U.S. exports and estimates for the next government inventory report.

NGI Storage Estimate

The June Nymex contract lost 4.8 cents day/day and settled at $2.964/MMBtu. A day earlier, the prompt month dropped 9.7 cents. July shed 5.0 to $3.028.

NGI’s Spot Gas National Avg. declined 7.5 cents to $2.735.

Data early Wednesday showed production hanging around 90 Bcf, down 1% from the prior day and essentially flat with the average of the past week. However, weather-driven domestic demand was light amid mild spring...