Despite robust export demand, bearish weather patterns and increased production weighed down natural gas futures on Monday.

Markets

The December Nymex contract dropped 29.8 cents day/day and settled at $2.697/MMBtu to start the trading week. January fell 25.8 cents to $2.864.

NGI’s Spot Gas National Avg. rose 3.0 cents to $2.630, as demand in the Northeast offset comfortable temperatures that spread across much of the nation’s southern half.

Looking further out, weather data trended bearish over the weekend. The European model lost seven heating degree days (HDD) and the domestic forecast shed 17 HDDs, “with both seeing little cold air into the northern U.S. for late November,” NatGasWeather said.

The forecaster sees modest demand on some days this month. “It’s just...