• Futures fell amid a diminished weather demand outlook
  • Strengthened liquefied natural gas volumes had little influence
  • Cash prices declined despite a winter storm

Natural gas futures on Monday dropped further amid a diminished demand outlook, extending steady losses recorded over the first half of March. The April Nymex contract settled at $2.484/MMBtu, down 11.6 cents day/day. The prompt month has now lost ground eight of the past nine trading sessions.

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The May contract has declined in tandem. It fell 11.3 cents to $2.523 on Monday as forecasts called for spring weather and tapered heating needs over the remainder of this month and into April.

Cash prices, which got a boost last Friday ahead of a substantial blast of late winter weather over the Rockies and northern Plains,...