Natural gas prices hovered in a narrow range of modest gains and losses Friday before ultimately finishing in positive territory, as traders assessed cooler near-term weather patterns and mounting production against lingering storage deficits.  

At A Glance:

  • Weather demand forecast to wane
  • ‘Fear’ lingers about threat to exports
  • Production holds near 2022 high

The October Nymex gas futures contract settled at $7.996/MMBtu, up 8.1 cents day/day. It marked a second consecutive advance. November rose 7.3 cents to $8.044 on Friday.

NGI’s Spot Gas National Avg. fell 37.5 cents to $7.435, extending a weeklong trend of losses against the backdrop of looming fall weather.

Marex North America LLC’s Steve Blair, senior account executive, told NGI that futures got a boost...