Natural Gas Futures Drop Again as Market Fixates on Freeport LNG Uncertainty

Natural gas futures hovered in a narrow range of modest gains and losses early Monday before cruising downward and ultimately finishing deep in negative territory, as traders assessed robust summer demand expectations against a shock last week to U.S. export capacity.
Breaking: NGI continues to cover the Freeport LNG facility explosion (latest story)

At A Glance:

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

The July Nymex gas futures contract settled at $8.609/MMBtu, down 24.1 cents day/day. The prompt month shed 11.3 cents on Friday. August futures on Monday fell 24.8 cents to $8.619.

NGI’s Spot Gas National Avg. raced in the other direction. Fueled by robust near-term cooling demand, it rose 42.0 cents to $8.635.

Futures traded...