Natural gas prices dropped again Wednesday as traders assessed receding domestic demand prospects, rising production and possible peril for American LNG exports. The October Nymex gas futures contract settled at $7.842/MMBtu, down 30.3 cents day/day. November fell 31.1 cents to $7.901.

At A Glance:

  • BREAKING: U.S. EIA reports an injection of 54 Bcf natural gas into storage for the week ended Sept. 2
  • Cooler weather ahead
  • Production strong

Wednesday’s prompt month loss followed a 47.6-cent sell-off ahead of Labor Day Weekend and another 64.1-cent nosedive on Tuesday.

Cash prices followed suit. NGI’s Spot Gas National Avg. shed 37.0 cents to $7.925 on Wednesday after losing 31.0 cents the prior day.

NatGasWeather analysts attributed “strong selling” in large part to...