With recent price gains seemingly not tied to fundamentals, natural gas futures prices came to their senses and tumbled on Friday amid a warming weather outlook and rising inventories. The Nymex November gas futures contract closed out the week at $6.453/MMBtu, off 28.8 cents from Thursday’s close. December futures slid 22.6 cents to $6.827.

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At A Glance:

  • Warmer trends seen for late October
  • Another triple-digit storage build possible
  • Cash prices slide ahead of weekend

Spot natural gas prices retreated further as part of the gas market’s typical weekend sell-off. NGI’s Spot Gas National Avg. fell 28.5 cents to $5.250.

After Thursday’s steep rise along the front of the Nymex curve in the face of more bearish storage data, the pullback in prices on Friday was largely...