Save for later Print Download Share LinkedIn Twitter September gas futures gas lost Monday's gains and then some, falling 10.9¢ to $3.837 per million Btu. Bullish storage and demand fundamentals still hold sway, the question is how much support will they soon provide with peak summer demand coming to an end and lackluster cooling loads expected through the end of the month throughout the Eastern US and Texas. The prompt month traded in an $3.803 - $3.954 range. The 12-month strip fell 7.5¢ to $3.654. The 2022 calendar strip slipped 4.9¢ to $3.466 (Futures contracts). * * * Kern River Delivered saw the most significant price move of the day, falling $2.51 to $4.63 in line with its target market SoCal Citygate, which declined $2.51 to average $5.09. Regional prices jumped Monday in reaction to a major rupture on El Paso's South Mainline (Briefs). This compared to benchmark Henry Hub cash prices that held flat at $3.92. In the Northeast, Boston-area Algonquin advanced 8¢ to average $3.84. In West Texas, cash prices at the Permian's Waha Hub rose 13¢ to average $3.72. Meanwhile, Rockies leader Kern/Opal rose 8¢ to $3.70 and Northwest Sumas gained 6¢ to average $3.53. In Canada, Alberta benchmark Aeco rose 25¢ to $2.08 (Daily spot prices). * * * Without major news and many traders on vacation, oil futures avoided Monday’s hefty price swings, but continued to be depressed by the social and economic impact of the Delta variant. West Texas Intermediate for September delivery lost 70¢ at $66.59/bbl.
