Natural gas futures faltered after the government’s latest inventory report showed continued plump supplies in underground storage. The print overshadowed forecasts for intense heat through the rest of July and pushed the prompt month lower for a second straight day.

At A Glance:

  • Production at 96.5 Bcf/d
  • Uneven weather outlook
  • Storage situation improves

After shedding 9.9 cents the prior session, the August Nymex gas futures contract on Thursday fell 8.7 cents day/day and settled at $2.545/MMBtu. September dipped 6.3 cents to $2.534.

Cash prices were mixed by region, with NGI’s Spot Gas National Avg. up 1.0 cent to $2.420.

Utilities injected 49 Bcf of natural gas into storage for the week ended July 7, the U.S. Energy Information Administration (EIA) reported...