Natural Gas Futures Retreat as Traders Await Cooler Weather; Cash Mostly Higher

• Supportive EIA data not enough to sway natural gas futures
• Weather forecasts continue to flip-flop, lowering confidence
• Cash still strong in most of U.S.; East markets slip

After gaining 25 cents in the past three sessions, natural gas futures took a breather Thursday. The November Nymex gas futures contract settled at $3.007, down 1.6 cents day/day. December, however, fell a sharper 7.6 cents to $3.272, and similar declines were seen through the remaining winter contracts.

Spot gas prices were mostly higher, but pipeline maintenance weighed heavily on West Texas markets. NGI’s Spot Gas National Avg. finished a 1.0 cent higher at $2.465.

Nothing’s really changed in the fundamental backdrop, and that could be why futures prices remained intact on Thursday. Liquefied...