Natural gas futures snapped a two-day rally with a sharp drop on Wednesday as markets shifted focus to mild weather and persistently strong production. The October Nymex gas futures contract settled at $2.733/MMBtu, down 11.5 cents day/day. November fell 10.5 cents to $2.921.

At A Glance:

  • 60s Bcf injection projected
  • Weather demand fades
  • Output holds at 100 Bcf/d

NGI’s Spot Gas National Avg. shed 14.5 cents to $2.170.

Futures plunged after an announcement by NGPL (aka the Natural Gas Pipeline Co. of America) that it delayed maintenance previously planned for the fall, according to NatGasWeather.

NGPL posted to its electronic bulletin board Tuesday afternoon that a series of planned hydrotest dates on its Louisiana No. 2 Line were “postponed until further...