The latest round of government storage data was about as bullish as it could be, but sellers came into the fold once weather models showed the upcoming heat being a little less intense.

storage

At A Glance:

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

The September Nymex gas futures contract settled Thursday at $4.140, off 1.8 cents day/day. October slipped 1.5 cents to $4.148.

Spot gas prices remained mostly in positive territory. However, there were a handful of locations, mostly in the West, that fell into the red. NGI’s Spot Gas National Avg. tacked on 2.5 cents to $4.145.

As it is every week, the Energy Information Administration’s (EIA) storage report was the primary focus of trading early in the session. Estimates ahead of the...