There was no getting off the world’s scariest roller coaster on Wednesday. After blasting to a $6.466/MMBtu intraday high, November natural gas prices plummeted all the way back down to $5.663. The prompt Nymex contract ultimately settled at $5.675, off 63.7 cents from Tuesday’s close. December plunged to $5.803.

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

Spot gas prices also tumbled from prior day highs amid a moderate temperature forecast for much of the Lower 48. NGI’s Spot Gas National Avg. slid 25.5 cents to $5.715.

In yet another erratic day of trading for Nymex futures, it appears bearish domestic fundamentals and some technical factors got the upper hand midweek as prices were lower to kick off Wednesday’s...