A weaker weather pattern seen for the coming two weeks coupled with rising production to send natural gas futures prices sliding on Monday. The July Nymex gas futures contract settled at $3.191, off 2.4 cents from Friday’s close. August slipped 2.1 cents to $3.215.

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At A Glance:

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

Spot gas prices were mostly lower too, with strong demand mainly on the West Coast and heat dissipating in the East. NGI’s Spot Gas National Avg. ultimately lost a half-cent to reach $3.075.

With the core of the summer quickly approaching, prices along the Nymex futures curve have gained momentum with every hotter turn of weather models. However, the 15-day outlook started to cool a bit at the end of last week. On...