Natural gas futures moved lower ahead of the December contract rolling off at the end of trading Tuesday, weighed down by weather forecasts doubling down on a bearishly warm early December and gas production holding near all-time highs.

At A Glance:

  • December Nymex rolls off
  • NGI’s National Avg up to $3.745
  • Southeast leads cash gains

The December Nymex natural gas futures contract settled at $2.706/MMBtu, down 8.8 cents day/day. The January contract, which moves to the front of the curve on Wednesday, fell 10.9 cents to $2.837.

In contrast, this week’s blast of cold sent overall physical markets higher. NGI’s Spot Gas National Avg. rose 2.5 cents to $3.745 as small and moderate declines in the Midwest and Appalachia were offset by a big jump in Southeast prices and gains...