Futures and next-day natural gas prices took the trajectory of skydivers jumping from a plane in Monday’s trading. If a falling screen weren’t enough, physical traders had the extra motivation of 20-plus degree warmups over the next two days in major eastern markets.

The NGI National Spot Gas Average tumbled 64 cents to $3.11, and all points with the exception of one unchanged location were down by deep double-digits and in some cases by multi-dollars. Overnight weather models moderated and sent futures weather bulls running for cover. At the close February was down 18.2 cents to $3.103 and March was off 17.5 cents to $3.113. February crude oil collapsed $2.03 to $51.96/bbl.

February futures are now 80 cents less than the day the January futures expired, setting a benchmark for January index deals at $3.930. Buyers who bought at index are “probably not too happy,” said a Houston pipeline veteran. “As long as you sold index you are happy, but if you roll the dice and pick the wrong way of course you are not going to be happy about it.”

Those on the long side of the physical market weren’t very happy Monday as temperature forecasts in major eastern market centers were expected to surge 20 degrees or more in the next two days. AccuWeather.com predicted Boston’s Monday high of 22 would rise to 37 Tuesday and reach 48 by Wednesday, 12 degrees above normal. Philadelphia’s Monday peak of 26 was expected to reach 39 Tuesday and 50 by Wednesday, 10 degrees above normal.

Next-day prices wasted no time taking the hint. Gas on Tetco M-3 Delivery fell $2.97 to $3.19 and gas headed for New York City on Transco Zone 6 was quoted $4.53 lower at $3.32.