Bears kept natural gas futures on the back foot again on Wednesday, extending the prompt month’s losing streak to three sessions. Production estimates again touched a new all-time high while weather forecasts stayed mild, likely keeping gas in storage leaning toward injection this week.

At A Glance:

  • Prompt month falls to $3.106
  • Cash prices halt six-session slide
  • Production tops 105 Bcf/d

The December Nymex natural gas futures contract fell 3.4 cents day/day to settle at $3.106/MMBtu. January shaved off 7.4 cents to settle at $3.389.

NGI’s Spot Gas National Avg. jumped 31.5 cents day/day to average $2.105 to snap a six-session losing streak. Broad gains were seen across regions, but notably, the benchmark Henry Hub price rebounded 17.5 cents to $2.210 Wednesday, a day...