Chris Newman

Natural gas futures pushed higher for a second day Wednesday, supported by a production slowdown this week and bears scattering ahead of a possible light summer storage print on Thursday.

Natural gas futures jumped on Tuesday to end a four-day slide as lighter production readings and mild impacts from remnants of former Hurricane Debby provided the catalyst for a relief rally.

Natural gas futures stumbled to start the trading week amid rising production levels and milder demand forecasts from the cooling effects of Hurricane Debby.

Weekly natural gas cash prices slipped lower in the week as abundant Lower 48 supply undercut support from strong cooling demand and LNG feed gas flows.

Natural gas futures closed near flat after gyrating on both sides of even Friday as a foot race between hot summer demand and rising production continued to play out in setting market balances.

Natural gas futures fell for a second day on Thursday after a lighter-than-forecast storage build appeared to not be enough to divert storage levels off their lofty trajectory into the fall.

The U.S. Energy Information Administration (EIA) on Thursday reported an injection of 18 Bcf natural gas into storage for the week ended July 26. The result, below expectations, kicked off a tug-of-war between natural gas futures bulls and bears.

The natural gas industry criticized a federal appeals court for tossing approval of the Regional Energy Access (REA) expansion project by Williams, claiming the ruling ignored the need for additional natural gas in the Northeast.

As weather forecasts trimmed more demand from the mid-August outlook, natural gas futures continued to move lower through midday trading Wednesday.

With weather models shedding more summer heat and Lower 48 supply trending higher, September natural gas futures resumed declines in early trading Wednesday.