Natural gas futures on Friday dipped lower for a second consecutive day as traders mulled forecasts for milder temperatures, the specter of easing demand and the potential for stronger storage injections ahead.

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At A Glance:

  • Futures falter for a second day
  • Forecasts call for mild conditions
  • Spot prices fade

The October Nymex contract dropped 23.0 cents day/day and settled at $5.105/MMBtu. November fell 23.6 cents to $5.146.

NGI’s Spot Gas National Avg. shed 19.0 cents to $5.150, led lower by declines in Texas.

Weather forecasts for the remainder of September shifted bearish again Friday – after shedding several cooling degree days (CDD) on Thursday – signaling the potential for solid increases to stockpiles in the coming weeks. This calmed fears of a low storage...