Bears maintained a grip on natural gas futures Thursday following an in-line storage print, an increase in production and forecasts for benign weather in the second half of October.

At A Glance:

  • Production at 96.5 Bcf/d
  • Uneven weather outlook
  • Storage situation improves

Coming off a half-cent decline the prior session, the November Nymex gas futures contract shed another 3.3 cents day/day and settled at $3.344/MMBtu. December declined 1.9 cents to $3.639.

NGI’s Spot Gas National Avg. lost 9.0 cents on Thursday to $2.295. This followed a 13.0-cent drop on Wednesday.

[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.]

Production topped 101.5 Bcf/d on Thursday,...