Bulls took the upper hand on Monday and Tuesday in the North American natural gas market, but stronger supply and mild temperatures gave bears the advantage on Wednesday and Thursday.

On Thursday, the October New York Mercantile Exchange gas futures contract fell 12.3 cents day/day and settled at $2.610/MMBtu. November shed 8.1 cents to $2.840.

NGI’s U.S. Spot Gas National Avg. lost 8.0 cents to $2.095.

U.S. natural gas output was around 101 Bcf/d on Thursday, only down slightly from summer highs. However, analysts see maintenance work ending soon and production rising, according to Wood Mackenzie.

“With bears dropping front month prices back under $2.70, we give them the benefit of the doubt they are back in control,” NatGasWeather said. “Although, for the past...