Natural gas prices moved lower in October bidweek trading as markets mulled prospects for waning weather-driven demand and the uncertain potential for a sustained recovery in liquefied natural gas (LNG) volumes.

natural gas bidweek

NGI’s October Bidweek National Avg. declined 33.0 cents month/month to $1.865/MMBtu and was well below the $2.005 average recorded during October 2019 bidweek.

The October Nymex natural gas futures contract rolled off the board on Monday at $2.101, down 3.8 cents day/day as weather-driven demand was forecast to fade in October and the market braced for a hefty storage injection for the week ending Sept. 25. The November contract plunged more than 26 cents over its first two days as the prompt, settling at $2.527/MMBtu on Wednesday, and the slide continued Thursday as...