Natural gas futures on Monday dropped as mid-range weather worries overshadowed continued strong liquefied natural gas (LNG) levels. The December Nymex contract shed 11.0 cents day/day and settled at $3.244/MMBtu. January lost 9.4 cents to $3.375.

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Spot gas prices, meanwhile, dipped lower despite a chilly start to the week. NGI’s Spot Gas National Avg. fell 5.5 cents to $2.825.

Bespoke Weather Services said warmer revisions to both the domestic and European forecasts for the first half of November, “and hints that a warmer regime can roll on into the second half of the month,” minimized the demand outlook and put downward pressure on futures Monday. The firm said both the American and European models early Monday had lost 10-12 gas-weighted degree days (GWDD) from earlier...