As demand destruction from the Freeport liquefied natural gas (LNG) terminal outage continued to loosen balances, strong summer heat failed to prevent natural gas forwards from falling during the June 23-29 trading period.

Fixed prices for August delivery at benchmark Henry Hub tumbled 37.4 cents during the period to average $6.499/MMBtu, NGI’s Forward Look data show. Fixed price declines of around 20-40 cents week/week were the norm for most Lower 48 hubs.

Meanwhile, a second straight bearish miss in the latest weekly Energy Information Administration (EIA) storage report Thursday reaffirmed looser balances in the wake of the Freeport liquefied natural gas (LNG) terminal outage.

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