Natural gas futures were down in early trading Friday as the market shifted its attention away from Thursday’s bullish storage print to moderating summer heat next week.
Coming off a one-day decline, the September Nymex contract was trading down 3.3 cents at $2.164/MMBtu as of 8:38 a.m. ET.
The U.S. Energy Information Administration (EIA) on Thursday reported a 6 Bcf withdrawal from Lower 48 storage for the week ending Aug. 9. It was the first summer draw since July 2016 and first August decrease since 2006.
