Leticia Gonzales

The battle for $3.000/MMBtu natural gas is heating up, even if furnaces aren’t quite doing the same. After an initial drop to an intraday low of $2.855, the November Nymex gas futures contract bounced and ultimately settled only 1.6 cents lower on the day at $2.929. December futures slipped 2.8 cents to $3.312.

Natural gas futures managed a fifth straight day of gains on Thursday as buyers continued to buy up the curve in spite of near-term bearish pressure. The November Nymex gas futures contract settled Thursday at $2.945/MMBtu, up 4.6 cents on the day. December futures climbed 5.0 cents to $3.340.

Natural gas futures managed a fifth straight day of gains on Thursday as buyers continued to buy up the curve in spite of near-term bearish pressure. The November Nymex gas futures contract settled Thursday at $2.945/MMBtu, up 4.6 cents on the day. December futures climbed 5.0 cents to $3.340.

The Energy Information Administration (EIA) reported an injection of 90 Bcf into natural gas storage inventories for the week ending Sept. 22, snapping an 11-week stretch of surplus-shrinking builds.

Natural gas prices were trending lower for October bidweek, dragged down by moderate temperatures, soft LNG demand and a host of other bearish factors as the fall shoulder season gets underway, according to NGI’s Bidweek Alert.

Natural gas forward prices recovered some ground during the Sept. 7-13 trading period as bullish technical signals and a steadily eroding storage surplus lifted the October contract by an average 10.0 cents, according to NGI’s Forward Look.

Natural gas forward prices recovered some ground during the Sept. 7-13 trading period as bullish technical signals and a steadily eroding storage surplus lifted the October contract by an average 10.0 cents, according to NGI’s Forward Look.

With Starbucks’ pumpkin-spice lattes in hand, natural gas traders sent forward prices plummeting as crisp air began moving into the country even as Texas continued to bake under triple-digit temperatures. October forward prices fell by an average 30.0 cents from Aug. 31-Sept. 6, with West Coast markets leading the way as losses there were more than double that amount, according to NGI’s Forward Look.

With Starbucks’ pumpkin-spice lattes in hand, natural gas traders sent forward prices plummeting as crisp air began moving into the country even as Texas continued to bake under triple-digit temperatures. October forward prices fell by an average 30.0 cents from Aug. 31-Sept. 6, with West Coast markets leading the way as losses there were more than double that amount, according to NGI’s Forward Look.

Natural gas prices for September bidweek were mostly higher as temperatures were forecast to remain above-normal in the final stretch of the summer season, keeping the call on natural gas for power generation elevated. With the supply outlook vastly improving in the Western United States, however, prices there posted massive losses month/month. NGI’s September Bidweek National Avg. ultimately dropped 22.0 cents to $2.375/MMBtu.