Small Pullback for Nymex Natural Gas Futures as LNG Demand Still Down; Cash Mostly Weak

• Natural gas futures slip as LNG demand still off, power burns soften
• LNG recovery unclear but Sabine Pass, Cameron report no “significant” damage following Hurricane Laura
• Waha cash up as El Paso concludes nearly five-month maintenance event

What initially appeared to be a substantial retracement for natural gas futures ultimately turned out to be a much smaller pullback to start the week. After bouncing off a $2.497/MMBtu intraday low, the October Nymex gas futures contract settled Monday at $2.630, off only 2.7 cents from Friday’s close. November finished four-tenths of a cent higher at $2.920.

Spot gas prices were mostly lower as cloudier weather along the Gulf Coast and easing temperatures on the West Coast tempered demand. NGI’s Spot Gas National Avg. fell 8.0...