Weekly natural gas cash prices lost ground amid increasingly benign temperatures and weak cooling demand across much of the Lower 48.

NGI’s Weekly Spot Gas National Avg. for the Sept. 18-22 period shed 23.0 cents to $2.180/MMBtu.

Conditions during the week shifted in bears’ favor, with comfortable temperatures across much of the North and forecasts for more widespread fall weather in the week ahead. 

Production held around 100 Bcf/d during the week – off roughly 2 Bcf/d from summer highs amid maintenance events in Texas and the Northeast. But Wood Mackenzie analysts noted that the work was temporary and output estimates would be revised upward in the near term. In fact, production recovered to 101 Bcf/d on Friday.

Against that backdrop, weekly cash price losses...