Natural gas futures slid for a second session Thursday after the latest government inventory data gave bulls little ammunition to counter against light demand weather forecasts and hefty production levels. Midday weather models didn’t help either, shaving off more demand, yet bulls fought on to narrow the session’s declines.

At A Glance:

  • Production at 96.5 Bcf/d
  • Uneven weather outlook
  • Storage situation improves

Coming off an 8-cent decline the prior session, the December Nymex gas futures contract shed another 2.2 cents day/day and settled at $3.472/MMBtu. January declined 0.3 cents to $3.750.

Spot gas prices fell Thursday as the season’s first big taste of winter cold receded. NGI’s Spot Gas National Avg. fell 29.5 cents to $2.670.

[Download Now: In our 2024...