Traders struggled to put a fair price on natural gas futures Wednesday amid conflicting signals in the United States and overseas. After plunging to a $5.350/MMBtu intraday low, however, a cooler turn in the latest weather models lifted the November Nymex gas futures contract, which settled 8.5 cents higher day/day to $5.590. December climbed 9.0 cents to $5.753.

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

Spot gas prices were a mixed bag amid some chilly weather on the West Coast and mild temperatures in most other regions. NGI’s Spot Gas National Avg. climbed 15.5 cents to $5.285.

Volatility along the Nymex futures strip continued midweek, with a generally warm outlook in the United States portending a continuation of...