Trading action along the Nymex natural gas futures curve was like watching paint dry on Monday, with the prompt month swinging in a tight range given no major changes to fundamentals. The September Nymex gas futures contract settled at $2.795/MMBtu, up 2.5 cents from Friday’s close. October futures tacked on 1.6 cents to $2.898. 

At A Glance:

  • Supply side still bearish
  • Weather models mixed
  • West cash prices surge

Western U.S. markets led the move higher for cash prices, lifting NGI’s Spot Gas National Avg. up 25.5 cents to $2.885.

Coming off a week in which natural gas futures surged close to $3.00 before collapsing, traders were tuned into weekend weather models to see whether there might be enough heat left in the forecast to meaningfully move prices one way or another....