Natural gas futures retreated on Friday after a two-day rally, as markets digested warmer weather patterns and new coronavirus red flags that may signal looming pandemic impacts on global energy demand. The April Nymex gas futures contract settled at $4.863/MMBtu, down 12.7 cents day/day. May fell 11.9 cents to $4.902.

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At A Glance:

  • Futures fall for first time in three days
  • Coronavirus cases surge abroad
  • Spring weather weighs on U.S. demand

NGI’s Spot Gas National Avg. shed 5.5 cents to $4.235.

Forecasts pointed to mild weather throughout the Lower 48 in the week ahead.

What’s more, mid-range weather models trended warmer from Thursday to Friday, NatGasWeather said. A brief bout of chilly air is still expected in northern markets March 26-28 but “not quite as...