PM market

After a brief move into positive territory on Friday, the weight of bloated natural gas storage inventories and the seasonal lull in demand ahead of winter proved too much for Nymex futures to overcome. The November contract capped off another volatile week firmly in the red, closing at $2.438, down 8.9 cents. December fell 7.1 cents to $2.991.

Spot gas prices also continued to slide across much of the country, sending NGI’s Spot Gas National Avg. tumbling 21.0 cents to $1.100.

With cool air starting to spread across the country, summer heat has come and gone for most states outside of the West. The lower demand period, coupled with lagging liquefied natural gas (LNG) feed gas deliveries, crippled futures significantly over the past week.

However, some analysts said the...