Natural gas futures cratered Monday, hammered by soaring natural gas production and a lack of weather-driven demand.

At A Glance:

  • Front month sinks 15.0 cents
  • Mild weather persists
  • California spot prices rise

The January Nymex natural gas contract settled 15.0 cents lower at $2.431/MMBtu. The front-month reversed earlier losses to a $2.294 intraday low. February careened 15.4 cents to end at $2.350.

NGI’s Spot National Avg. climbed 8.5 cents from Friday to $2.405. Prices varied at hubs across the country with weather providing mixed support.

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

Bearish momentum intensified Monday with revised weather forecasts that implied last week’s...