Natural gas futures were lower early Wednesday, dragged down by softening global gas prices and production near recent highs. Bulls bought the dip and eventually garnered enough momentum to stage a recovery. After touching a $9.284/MMBtu intraday high, the October Nymex gas futures contract ultimately settled 8.5 cents higher day/day at $9.127. November futures climbed 8.6 cents to $9.189.

At A Glance:

  • BREAKING: U.S. EIA reported a 61 Bcf injection into natural gas storage inventories for the week ending Aug. 26, in line with expectations
  • Two storms brewing in Atlantic
  • Cash prices sink except in West Coast

Spot gas prices were mixed, with the vast majority of locations shifting only a few cents day/day. However, multi-dollar gains continued in California, driving up NGI’s...