February Natural Gas Futures Stumble as Weather Worries Persist

• Futures faltered for a fourth-consecutive day
• Weather outlooks shifted increasingly bearish
• LNG feed gas volumes were subdued

Natural gas futures faltered for a fourth-consecutive day to end the week, with weakened weather demand expectations and lower U.S. export levels overshadowing a government inventory report that showed the steepest withdrawal of the season.

The February Nymex gas futures contract settled at $2.446 on Friday, down 4.5 cents day/day. March shed 4.1 cents to $2.456.

NGI’s Spot Gas National Avg., meanwhile, posted its first gain of the week, advancing 9.0 cents to $2.640.

After the Global Forecast System (GFS) backed off of cold expectations earlier in the week, the European model followed suit overnight Thursday, disappointing markets.

The outlook...