Natural gas futures on Monday floundered following forecasts for milder weather and estimates of strong production to start the week, continuing a slump as the December contract traded into expiration.

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At A Glance:

  • Weather demand fades in outlook
  • Analysts expect second storage pull
  • Rail strike looms

After falling in Friday’s session, the December Nymex natural gas contract dropped 31.2 cents day/day and settled at $6.712/MMBtu on Monday before rolling off the board. January, which takes over as the prompt month on Tuesday, slid 13.4 cents to $7.196.

NGI’s Spot Gas National Avg. shed 30.0 cents to $6.445.

NatGasWeather said forecasts over the weekend extended warmer trends for the first week of December and showed above-normal temperatures over the southern and...