Despite a midweek burst fueled in part by war uncertainty, weekly natural gas cash prices gave up ground amid mild late-week temperatures and expectations for near-term light demand.

NGI’s Weekly Spot Gas National Avg. for the Feb. 28-March 4 period dipped 83.0 cents to $4.840.

The April Nymex contract, meanwhile, rallied during the week and settled at $5.016/MMBtu to close the trading week on Friday, up 12% from the prior week’s finish.

Frosty temperatures permeated much of the Midwest and Northeast, supporting demand, and by midweek, worries about the Russia-Ukraine war had boosted nearly all commodities, including next-day gas prices.

Average national cash prices soared more than $1.600 on Wednesday amid war-induced supply worries that also sent European gas and...