The combination of unseasonably light weather-driven demand and record-level production continued to deal one bearish blow after another to regional natural gas prices during the Dec. 7-13 trading period, data from NGI’s Forward Look show.

Traders locked in fixed price discounts from coast-to-coast for the period, with Henry Hub down to $2.342/MMBtu for January delivery, off 23.3 cents week/week.

Selling was especially pronounced at demand hubs, where basis premiums continued to wither in the face of strong production figures and Lower 48 forecast maps blanketed by swaths of warmer-leaning temperatures deep into the back half of December.

Coastal Premiums Fading

Along the East Coast, Algonquin Citygate basis crumbled across the remaining winter months, with January...