Amid signs of renewed production strength, and with seasonal to cooler-leaning summer temperatures expected over population centers in the Midwest and Northeast, natural gas forwards ceded ground during the June 29-July 5 trading period, NGI’s Forward Look data show.

Natural gas fixed prices at benchmark Henry Hub shed 1.7 cents for the period to end at $2.658/MMBtu for August delivery. Most Lower 48 hubs finished in the red, with fixed price discounts generally confined to within a dime.

Traders during the period were left to price in production gains and warm but not overly impressive temperatures — a recipe for preserving the already ample natural gas storage surplus the market is carrying into the heart of summer.

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