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Daily Prices

8/30/24

Natural Gas Futures Extend Losses Amid Storage Concerns as Weather Support Fades

By Jodi Shafto

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Published in: Daily Gas Price Index Filed under:

Bears maintained control in the week’s closing session as natural gas futures fell deeper amid growing concerns that mild weather would ease demand and limit the ability to wear away a hefty storage surplus.

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The September Nymex futures contract settled Friday at $2.022/MMBtu, off 3.1 cents on the day. October futures slipped 1.4 cents to settle at $2.180 as it sets up to take over as the lead contract following September’s roll off the board at the close of business Wednesday.

NGI’s Daily Spot Gas National Avg. slipped 8.0 cents to $1.295, displaying similar weakness on the back of lighter weather-related and weekend load requirements.

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Jodi Shafto

Jodi Shafto joined NGI as a Senior Natural Gas Reporter in October 2023. Before that, she was a business news reporter for South Carolina's largest daily newspaper, The Post and Courier, and was a Senior Energy Markets Reporter at S&P Global Market Intelligence. Based out of Charleston, Jodi has covered US energy markets since 2005 as a reporter, editor and analyst. A New Jersey native, she holds a BS in Journalism from Bowling Green State University.