Save for later Print Download Share LinkedIn Twitter Driven by milder weather forecasts, August US gas futures fell 8.7¢ Thursday to $2.545 per million Btu despite a storage report showing an injection that was 2 billion cubic feet below expectations. The move marks a two-day, 18.6¢ decline in the nearby contract despite flagging production. At 99.7 Bcf/d on Jul. 13, dry gas output hovered near one-month lows for the second consecutive day, down from nearly 102 Bcf/d a week ago, according to data from Refinitiv. But the production declines are maintenance-related and analysts expect volumes to rebound. “With the uncertainty of storage out of play for now, … weather forecasts [are] a significant factor for near-term market analysis,” Gelber & Associates analysts said.
