Kevin Dobbs

In its debut run at the front of the Nymex natural gas futures curve, the October contract mustered momentum after a government inventory report met expectations and proved bullish relative to historical norms.

In its first session at the front of the curve, the October Nymex gas futures contract early Thursday was lower and in a holding pattern amid an evolving supply/demand outlook.

Weak natural gas prices through most of 2024 challenged the industry’s profitability, but they helped to dramatically ease the pace of U.S. inflation and, by extension, nudged the Federal Reserve (Fed) to the doorstep of interest rate cuts.

In its final run as the prompt month, the September natural gas futures contract opened lower, with steady production and approaching fall weather trumping expectations for a favorable government inventory print.

The September Nymex gas futures contract on Wednesday limped along early on its last day at the front of the curve. It was down 1.1 cents to $1.893/MMBtu as of 8:40 a.m. ET.

With supply appearing more than ample to meet demand through the waning days of summer, natural gas futures gave up more ground through midday trading Tuesday. Natural gas spot prices also fell.

With the prompt month contract on the doorstep of expiration and fundamentals providing little support, natural gas futures fell early Tuesday.

Coming off a slump the week before, natural gas futures extended their losing ways through early afternoon trading on Monday. Market participants fixated on early signs of fall weather and robust supplies. Near-term heat, however, propelled cash prices.

Natural gas futures on Monday picked up where they left off last week – slumping amid hefty supply levels and signs of fading demand.

Stubbornly high levels of storage supplies and forecasts for waning weather demand weighed on natural gas futures through midday trading on Friday.