With signs of a February warm-up going a long way toward assuaging any lingering supply concerns, natural gas forwards plummeted during the Feb. 2-9 trading period, NGI’s Forward Look data show.

Shedding value like a winter coat on an unseasonably warm sunny afternoon, benchmark Henry Hub fixed price trades plunged $1.492 to average $4.019/MMBtu during the period, mirroring a similar decline in Nymex futures.

In the context of a warmer-than-normal look to the late February pattern from recent weather model runs, March forwards price action suggested a natural gas market ready to close the book on winter. 

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