Slightly Weaker Balances Behind Modest Retreat for Natural Gas Futures

• BREAKING: U.S. EIA reports a 58 Bcf injection into natural gas storage inventories for the week ending Aug. 7, coming in on the high end of wide-ranging estimates
• Nymex natural gas futures slip despite little change in weather outlook
• Cash starts to soften on cooler East temperatures

Natural gas futures quickly reversed course midweek after a bearish revision in production data and slightly weaker liquefied natural gas (LNG) demand sent prices tumbling. The September Nymex contract settled Wednesday at $2.152, down 1.9 cents day/day. October fell 1.4 cents to $2.297.

Spot gas prices also softened as much of the heat that had engulfed the East Coast earlier this week was set to subside, leaving only the West with above-normal temperatures. NGI’s Spot Gas National Avg. slipped...