Shoulder Season Weighs on Natural Gas Futures as Feedgas Remains Strong

Natural gas futures declined on Friday as traders weighed the approaching shoulder season decline in demand against strong liquefied natural gas feedgas and hotter regional weather forecasts. The October contract slid 3.9 cents to $2.875 per million British thermal units (MMBtu) around 11:45 a.m. ET, while November futures dropped 4.0 cents to $3.031/MMBtu.

Physical prices were mixed, but the market's focus remained on the upcoming shoulder season, which typically sees lower demand for natural gas. The strong feedgas and warmer temperatures added to the uncertainty surrounding price direction in the near term.