Natural gas futures slipped lower Tuesday, extending the extensive sell-off from a week earlier. A mid-July reprieve from oppressively hot weather patterns and the potential for another stout storage print weighed on prices.


At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

The August Nymex gas futures contract settled at $5.523/MMBtu, down 20.7 cents day/day. September fell 22.5 cents to $5.487.

With heat scorching the Lower 48 in the near term, NGI’s Spot Gas National Avg. gained 30.0 cents to $5.760.

Major weather models continued to show strong heat through the first half of the month, according to NatGasWeather, though some easing in temperatures may be on the horizon.

The American and European models “both remain...