The December natural gas futures contract on Friday floundered in its first session as the prompt month amid light demand, strong production and forecasts for plump storage injections.

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At A Glance:

  • Production holds strong
  • Weather demand wanes
  • Storage levels strengthen

December Nymex gas futures settled at $5.684, down 19.1 cents day/day. January fell 18.3 cents to $5.953.

NGI’s Spot Gas National Avg. shed 35.5 cents to $4.345.

“The most important driver of Nymex gas…is overwhelming warmth enveloping the eastern two-thirds of the country through mid-November,” said EBW Analytics Group’s Eli Rubin, senior analyst.

Citing DTN forecasts, he said gas-weighted heating-degree days could fall 75 below normal between late October and the middle of next month. “If...