Natural gas prices stumbled on Monday as weather forecasts continued to show mild conditions through late March, likely pushing the domestic market comfortably beyond the peak heating season.

storage chart

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

The April Nymex gas futures contract shed 6.7 cents day/day and settled at $4.658. May lost 6.4 cents to $4.702.

NGI’s Spot Gas National Avg. dropped 56.0 cents to $4.245 ahead of the anticipated warm-up.

Forecast trends over the weekend were bearish, with models advertising comfortable temperatures for much of the Lower 48 starting Tuesday and continuing until late this month, according to NatGasWeather.

Temperatures are projected to be “so exceptionally comfortable” between...