Natural gas futures faltered on Friday as traders took profits and markets focused on a near-term shift in weather that is expected to usher in a reprieve from the oppressive heat that has defined the summer to date over much of the Lower 48. 

markets

At A Glance:

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

The September Nymex contract dropped 14.5 cents day/day and settled at $3.914/MMBtu. A day earlier, in its debut as the prompt month, September rallied 9.2 cents. Futures had advanced more than 11% to that point in July. October shed 14.0 cents to $3.920 on Friday.

NGI’s Spot Gas National Avg. retreated 12.5 cents to $3.745.

“National demand will ease to much lighter levels” over the coming week “as weather systems sweep across...