Natural Gas Futures Collapse on Stronger Production, Storage Optimism; Cash Slides

It was a bloodbath in the natural gas market at the close of the week, with production figures showing only a modest dip day/day and holding near highs. With the most intense heat throughout the first half of the month relegated out West, the October Nymex gas futures contract plunged 47.6 cents Friday to settle at $8.786/MMBtu. November futures fell 48.0 cents to $8.850.