Natural gas prices dropped again Wednesday as traders assessed receding domestic demand prospects, rising production and possible peril for American LNG exports. The October Nymex gas futures contract settled at $7.842/MMBtu, down 30.3 cents day/day. November fell 31.1 cents to $7.901.

At A Glance:

  • Production hovers around all-time high
  • Forecasts call for cooler weather ahead
  • EPA action could hinder U.S. exports

Wednesday’s prompt month loss followed a 47.6-cent sell-off ahead of Labor Day Weekend and another 64.1-cent nosedive on Tuesday.

Cash prices followed suit. NGI’s Spot Gas National Avg. shed 37.0 cents to $7.925 on Wednesday after losing 31.0 cents the prior day.

NatGasWeather analysts attributed “strong selling” in large part to cooler temperature trends...