Natural gas futures continued to sell off on Friday as an expected warmup and likely rebound in production over the weekend pressured prices. The March Nymex gas futures contract closed out the week at $2.410/MMBtu, off 4.6 cents on the day. April futures slid 4.2 cents to $2.480.

At A Glance:

  • February forecast seen bearish
  • Quick production recovery likely
  • Northeast cash plummets

In a blink-and-you-missed-it moment, spot gas prices in the Northeast, which topped $200 on Thursday, came crashing back down to earth on Friday. With the highest price in the region reaching only $15.000, the steep price discounts sent NGI’s Spot Gas National Avg. down $7.855 to $3.065.

Some of the most frigid weather in history is expected to continue through the weekend on the East Coast, but a...