• Warmer weather seen through mid-November sends natural gas futures lower
  • LNG demand still strong
  • Waha plunges into negative territory despite end of pipeline work

Lower natural gas production and stronger export demand may keep bulls in the driver’s seat in the weeks and months ahead, but Mother Nature refused to sit back and not have her say. A warmer turn in the latest weather forecasts pushed the November Nymex futures contract back below the coveted $3.00/MMBtu mark on Friday, shedding 3.6 cents to $2.971. December dropped 7.7 cents to $3.195.

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Spot gas prices were mostly lower Friday, but colder weather moving into the East lifted prices in the region. NGI’s Spot Gas National Avg. climbed 2.5 cents to $2.490.

Given Thursday’s supportive storage data and increasing...