Global natural gas prices weakened on Monday amid bearish weather forecasts. 

Both the prompt Dutch Title Transfer Facility and the UK’s National Balancing Point gave up last week’s gains, when the European benchmarks were pushed up by cooler temperatures, rising carbon prices, improving crude oil and stronger sentiment in the Asian gas market. Above-normal temperatures are expected across much of the continent next week. Milder temperatures in the United States were also holding back gas prices there as the week got underway. 

Japan Korea Marker (JKM) futures gained last week as well and spot prices remained stable Monday at over $5.00/MMBtu, but JKM has steadily declined in recent weeks. “The move has been driven by a wave of Atlantic Basin supply finally reaching Asia...