Natural gas futures continued to flip flop midweek as a technical bounce lifted prices modestly despite cooler weather in the forecast. A recovery in exports to Mexico also likely had a hand in the uptick, which boosted the September Nymex futures contract 1.5 cents to $3.852/MMBtu.

At A Glance:

  • Technicals play into modest uptick for futures
  • Two storms churning in Atlantic Basin
  • Cash still weak ahead of warm-up

Spot gas prices were still lower at the majority of pricing hubs. NGI’s Spot Gas National Avg. slipped 3.5 cents to $3.780.

With the clock ticking on summer, recent weather models have provided little for natural gas traders to get excited about. There is a strong likelihood that temperatures will warm back above normal levels this weekend through next week across...