Record Production Weighs on Natural Gas Futures Price

Natural gas futures price forecast for October NG sees the contract trading at $2.84 after Monday's pullback erased the gains from the week ended September 18.

The recent path shows a tug-of-war between bearish and bullish inputs, with lower 48 output reaching a record 113.2 Bcf/d in September and demand growing only 2.7% year over year.

A storage build under 30 Bcf targets $2.912 and $3.00, while above 35 Bcf opens up $2.75 and $2.70.