November Nymex natural gas (NGX25) closed down -3.43% on Friday. Prices fell due to warm mid-October US weather forecasts reducing heating demand. US nat-gas production near record highs, with rigs at a 2-year high. EIA reported a smaller-than-normal build in weekly gas storage, boosting prices briefly.

US dry gas production at 108.4 bcf/day, with lower-48 state gas demand at 66.4 bcf/day. LNG net flows to US terminals at 15.7 bcf/day. Edison Electric Institute reported a +5.96% y/y rise in US electricity output. Weekly EIA report bullish for nat-gas prices, with inventories below expectations.

Baker Hughes reported a rise in active US nat-gas drilling rigs to 118, slightly below the 2-year high. As of September 30, gas storage in Europe was at 85% capacity, slightly below the 5-year average. Nat-gas prices pressured by warm US weather, despite supportive factors like rising electricity output.

Read more at Yahoo Finance: Nat-Gas Prices Pressured by Mid-October US Warmth