Natural gas futures advanced for a second straight day as estimates continued to show lighter production levels and analysts anticipated another relatively small storage injection. Following an 8.4-cent gain in the previous session, the October Nymex gas futures contract on Tuesday gained 12.0 cents day/day and settled at $2.848/MMBtu.  

Waha Prices

At A Glance:

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

NGI’s Spot Gas National Avg. slipped a half-cent to $2.315.

Production volumes held slightly above 100 Bcf/d on Tuesday – as they did the day before – about 2 Bcf/d below summer highs.

Wood Mackenzie analyst Laura Munder attributed the decline to lighter flows out of Texas and the Northeast corresponding with maintenance events in those...