At A Glance:

  • Prompt month falls for fifth session
  • Production lower on maintenance
  • Heating demand drops into weekend

After a double-digit gain to start the week, natural gas futures retreated a bit Wednesday as a majority of the previously reported production decline recovered midweek. With traders eyeing another potential bearish storage injection, the July Nymex gas futures contract settled 2.9 cents lower at $3.075. August fell 3.2 cents to $3.094.

Spot gas prices continued to strengthen across most of the country, though Southern California recorded steep losses despite the continuation of record heat. NGI’s Spot Gas National Avg. ultimately went unchanged at $2.850. 

As for futures, the July Nymex contract fell early. Though some pullback was expected after the...