Coming off a 12% slump last week, natural gas futures clawed back into the green Monday amid estimates of record output and potential threats to production in the form of a hurricane en route to Florida. The October Nymex gas futures contract gained 7.5 cents day/day and settled at $6.903/MMBtu. November added 2.2 cents to $7.014.

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., which also gave up substantial ground over the past week, recovered Monday and increased 11.5 cents to $5.240.

Lower 48 dry gas production reached 101.1 Bcf/d over the weekend – a record in Bloomberg’s data set. Output held near that level on Monday – at 100 Bcf/d.

Supply has strengthened through much of September,...