Market Watch

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The September gas futures contract plunged 42¢ Thursday to settle at $8.134 per million Btu on its first day in the prompt month position. The move was counterintuitive as it came in the wake of very bullish storage data. However, traders elected to focus instead on the potential for growing production and possible LNG outages from tropical storms to temper bullish sentiment. The 12-month strip averaged $6.688 with September in the lead position; the 2023 calendar strip was down 15.2¢ to $5.656 (Futures contracts).

Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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