Updated Aug 22, 2024
8/22/24
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 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.
Natural gas futures slumped lower for a third straight session on Thursday, hindered by a bearish storage print relative to expectations and elevated supply levels overall.
With summer heat falling short of record forecasts and natural gas storage levels still well above historical levels, gas forwards slipped at the front of the curve during the June 20-26 trading period, according to NGI’s Forward Look.