Momentum for natural gas futures proved further elusive on Thursday following an in-line government inventory report that kept supplies at a hefty surplus relative to historic averages. Strong production and weak weather-driven demand continued to command traders’ attention.

At A Glance:

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

The June Nymex gas futures contract fell 6.9 cents day/day and settled at $2.101/MMBtu. July lost 6.3 cents to $2.297. Trading Thursday marked the fourth consecutive session of losses for the futures market.

NGI’s Spot Gas National Avg. dropped for a third straight day, losing 13.0 cents to $1.715 on Thursday.

[Actionable Insight: Did you know that NGI is one of only two Price Reporting Agencies that...