Natural gas futures fell Monday, kicking off the new month much in the way 2023 has gone so far – under pressure from strong production, modest weather-driven demand and stout storage supplies.

At A Glance:

  • Prompt month sheds 11.9 cents
  • Production, supplies robust
  • Weakening weather outlook

The May Nymex gas futures contract settled at $2.097/MMBtu, down 11.9 cents day/day. June fell 13.2 cents to $2.333. The prompt month had recorded a gain Friday but overall lost 6% last week.

NGI’s Spot Gas National Avg., however, picked up 21.5 cents to $2.555 on increases in the volatile West.

[Want to visualize Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.]

Throughout the first quarter of this year – and...