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Natural Gas Futures, Cash Prices Rally Second Day Amid ... - Natural Gas Intelligence

Natural Gas Intelligence · last updated

Natural Gas Futures, Cash Prices Rally Second Day Amid Production Drops, Cooling Demand - Natural Gas Intelligence

Natural gas futures maintained momentum Tuesday, supported by a dip in production and forecasts for increasing national heat.

At A Glance:

- Front month gains 6.2 cents
- Production estimates decline
- Consumption poised to mount

Coming off an 8.7 cent advance to start the week, the August Nymex gas futures contract on Tuesday gained 6.2 cents day/day and settled at $2.731/MMBtu. September rose 5.1 cents to $2.692.

NGI’s Spot Gas National Avg. advanced 10.5 cents to $2.450.

Wood Mackenzie production estimates Tuesday showed total domestic output down about 2 Bcf/d to roughly 99.9 Bcf/d. Production had approached record levels around 102 Bcf/d to start the week.

“The declines are concentrated in areas where there is maintenance underway, but revisions are expected in...

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