Natural gas futures fell back below $4.00 on Thursday after the latest government storage figure came in on the higher side of expectations. With a cool front on the way and cash prices weaker, the September Nymex gas futures contract settled at $3.933, off 12.6 cents. October slid 12.3 cents to $3.948.

storage August 6

At A Glance:

  • EIA’s 49 Bcf fails to excite
  • Balances still tight with price risk to upside
  • Cash crumbles ahead of looming cool front

Spot gas prices also continued to pull back ahead of much cooler temperatures expected this weekend. NGI’s Spot Gas National Avg. fell 15.0 cents to $3.995.

With few changes on the weather front, all attention was on the latest round of storage data. The Energy Information Administration (EIA) reported an on-target 49 Bcf injection into...