After another week of turbulent swings in the natural gas market, bulls and bears appeared ready to take a breather on Friday. November Nymex gas futures still gyrated in a more than 30-cent range, but were poised to settle nearly flat on the day before a late-session sell-off ended with the contract off 11.2 cents day/day at $5.565/MMBtu. December slipped 10.7 cents to $5.710.

California Forwards Regional Outlook

At A Glance:

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

Spot gas prices continued to retreat, with the typical decline in weekend demand accompanying a mild weather outlook. Led by sharp decreases on the East and West coasts, NGI’s Spot Gas National Avg. plunged 32.0 cents to $5.125.

The softness in the futures and cash markets at the end of the week was a...