Bears maintained a grip on natural gas futures Wednesday following an in-line storage print, an increase in production and forecasts for benign weather in the second half of October.

At A Glance:

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

Coming off a half-cent decline the prior session, the November Nymex gas futures contract shed another 3.3 cents day/day and settled at $3.344/MMBtu. December declined 1.9 cents to $3.639.

NGI’s Spot Gas National Avg. lost 9.0 cents on Thursday to $2.295. This followed a 13.0-cent drop on Wednesday.

Production topped 101.5 Bcf/d on Thursday, up slightly from the prior day and up more than 1.0 Bcf/d from estimates through much of October to date. Maintenance work in the Permian Basin and the...