Coming off a 56.0-cent sell-off to close out last week’s trading, natural gas futures on Monday shrugged off recent bearish developments and reversed course, trading in positive territory most of the day. Still, futures lost momentum late, despite seasonally stout cooling demand forecast for this week, and the October Nymex gas futures contract settled at $7.752/MMBtu, down 1.2 cents day/day. November lost seven-tenths of a cent to $7.804.

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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. shed a half-cent to $7.035, though prices were up in several regions.

Production held just shy of 100 Bcf/d on Monday, down slightly from the 2022 highs reached earlier this month, according to Bloomberg’s...