October Nymex natural gas prices closed down -1.74%. Prices hit a 3-week low due to negative carryover from EIA reports of a +90 bcf rise in inventories, above expectations. Cooler US weather forecasts dampened demand for electricity providers. US nat-gas production near record high, with 107.6 bcf/day production and 73.1 bcf/day demand.

Higher US nat-gas production and abundant supplies contributed to lower prices. US electricity output rose y/y, but nat-gas inventories were up +6.3% above their 5-year average. European gas storage was 81% full, below the 87% seasonal average. Active US nat-gas drilling rigs remained at 118, slightly below the 2-year high.

Read more at Yahoo Finance: Nat-Gas Prices Fall on Abundant Supplies and Cooler US Weather