Natural gas futures failed to gain traction Friday, continuing a lengthy losing streak amid elevated production volumes and strong supplies in storage.

At A Glance:

  • Stout supplies apply pressure
  • Output holds above 102 Bcf/d
  • Varied domestic demand view

The November Nymex gas futures contract lost 5.8 cents day/day and settled at $2.899/MMBtu. It marked an eighth consecutive decline.  

NGI’s Spot Gas National Avg. dropped 30.0 cents to $1.990, falling a second straight day as near-term weather demand dwindled.

Production held above 102 Bcf/d on Friday – as it did all week – and hovered about 1 Bcf/d within record levels. At the same time, weather-driven demand at the national level has proven modest. There have been bouts of chilly air and rain across the North, from...