Natural gas futures trended up slightly for a second day as traders weighed strong near-term demand against looming autumn weather and strong supplies. The October Nymex gas futures contract settled at $2.605 /MMBtu, up 2.6 cents day/day.  

At A Glance:

  • Front month gains 2.6 cents
  • Weather shift in the cards
  • Production near 101 Bcf/d

NGI’s Spot Gas National Avg. slipped 7.0 cents on Friday to $2.330 after a series of small gains earlier in the week.

Production held near 101 Bcf/d on Friday – within 2 Bcf/d of record levels but more than 1 Bcf/d off summer highs. Weather-driven demand, meanwhile, proved strong through the end of the trading week, with triple-digit highs persisting in Texas and the Southwest.

NatGasWeather also noted that highs of the upper 80s and 90s...