Natural gas futures eked out a positive session Thursday as an on-target storage print confirmed further erosion of the Lower 48 inventory surplus on recent summer heat. 

At A Glance:

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

Meanwhile, cash prices underwent further moderation out West, helping to drop NGI’s Spot Gas National Avg. 14 cents to $2.455/MMBtu.

Coming off consecutive sessions in the red, the September Nymex contract pared some of its recent losses by adding 2.9 cents to settle at $2.621.

[Actionable Insight: Did you know that NGI is one of only two Price Reporting Agencies that include trade data from the Intercontinental Exchange? Find out more.]

The U.S. Energy Information Administration (EIA) on Thursday reported...