Natural gas futures buckled under pressure Thursday after a slightly larger-than-expected storage injection sapped the momentum prices had earlier in the week. The September Nymex futures contract settled at $2.165, down 2.6 cents day/day. October also slipped 2.6 cents to $2.305.

Spot gas prices softened across the board as well, dragging down NGI’s Spot Gas National Avg. 8.0 cents to $1.830.

After a stunning rally to start the week, Nymex futures had been expected to retreat a bit, especially with cooler weather in the forecast. While Wednesday’s price action failed to move the needle, bears got the upper hand on Thursday after the latest government data pointed to a market that remains “woefully oversupplied,” according to NatGasWeather.

The Energy Information...