Natural gas futures floundered Monday as the prospect of a coronavirus resurgence and the potential for weak weather demand extending into December weighed on markets. The December Nymex contract dropped 27.6 cents day/day and settled at $4.789/MMBtu. January fell 28.4 cents to $4.861.

NGI Storage Estimate

At A Glance:

  • Forecasts point to light weather-driven demand next month
  • New coronavirus outbreaks threaten energy consumption
  • Northeast spot prices stood apart, spiking amid regional demand

In contrast, NGI’s Spot Gas National Avg. gained 37.5 cents to $5.255, boosted by a surge in prices at Northeast hubs.

Last week, the prompt month rallied four out of five trading sessions, bolstered by lofty levels of U.S. liquefied natural gas (LNG) exports. LNG volumes held strong Monday – near record...