Natural gas futures plunged Thursday despite an intensifying cold front on the horizon. Selling accelerated throughout the session on a trio of bearish drivers that sent December Nymex gas spiraling to a $5.736/MMBtu intraday low. The prompt month eventually settled at $5.782, off 41.6 cents from Wednesday’s close. January dropped 40.6 cents to $5.871.

storage

At A Glance:

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

Spot gas, which traded Thursday for delivery through Sunday (Oct. 31), also came crashing down amid a mostly comfortable weather pattern across the country. NGI’s Spot Gas National Avg. tumbled 39.5 cents to $5.390.

Russia To The Rescue

With weather taking on an increasingly important role in the gas market as the winter...