Natural gas futures found fresh footing early Wednesday, rising 8.0 cents in morning trading, but prices ultimately slumped and the prompt month extended a losing streak to six sessions. Weather forecasts showed more demand in coming weeks and LNG feed gas volumes held strong, but abundant supplies countered.

At A Glance:

  • Analysts see moderate injection
  • Production holds atop 102 Bcf/d
  • U.S. LNG demand proves strong

The November Nymex gas futures contract shed 2.3 cents day/day and settled at $3.056/MMBtu.  

NGI’s Spot Gas National Avg. gained 20.0 cents to $2.405, extending a week-to-date rally.

Production hovered around 102.5 Bcf/d and near record levels above 103 Bcf/d reached earlier in the week, according to Bloomberg’s estimates Wednesday. Maintenance work in the...