Natural Gas Futures Decline a Second Day as Robust Storage Supplies Galvanize Bears - Natural Gas Intelligence

Natural Gas Futures Decline a Second Day as Robust Storage Supplies Galvanize Bears - Natural Gas Intelligence

Natural gas futures faltered after the government’s latest inventory report showed continued plump supplies in underground storage. The print overshadowed forecasts for intense heat through the rest of July and pushed the prompt month lower for a second straight day.

At A Glance:

- EIA prints a 49 Bcf injection
- Forecasts show solid demand
- Production remains in focus

After shedding 9.9 cents the prior session, the August Nymex gas futures contract on Thursday fell 8.7 cents day/day and settled at $2.545/MMBtu. September dipped 6.3 cents to $2.534.

Cash prices were mixed by region, with NGI’s Spot Gas National Avg. up 1.0 cent to $2.420.

[Land of Opportunity: Can Texas natural gas power Mexico’s nearshoring and LNG export ambitions? Possibilities abound on both sides of...