Natural gas futures on Wednesday picked up where they left off the prior session – mired in the red as traders braced for autumn weather and lighter demand.

At A Glance:

  • Prompt month sheds 7.2 cents
  • Northeast production slips
  • Market sees 40s Bcf injection

Following an 18.3-cent drop a day earlier, the October Nymex gas futures contract shed another 7.2 cents on Wednesday and settled at $2.510/MMBtu. November fell 4.8 cents day/day to $2.943.

NGI’s Spot Gas National Avg. ticked up for a second day this week, advancing 4.5 cents to $2.370, with gains in California and West Texas offsetting declines elsewhere.

Production on Wednesday was down about 1 Bcf/d to 101 Bcf/d because of maintenance work in the Northeast, according to Wood Mackenzie. However, upward revisions...