January Nymex natural gas futures held to the upside as the market looked to forecasts calling for colder winter weather. With the number of heating degree days (HDD) in question, though, persistent supply glut woes limited the advance.

At A Glance:

  • Futures end wild session up 3.8 cents
  • Weather changes stoke supply worries
  • Cash markets tumble on weekend/holiday

The front-month contract settled Friday’s regular trading session at $2.610/MMBtu, up 3.8 cents. The more heavily traded February contract closed at $2.490, gaining 3.1 cents day/day.

NGI’s Daily Spot Gas National Avg. crumbled 55.0 cents to $1.805. Physical trades were done for natural gas flow Saturday, Dec. 23, through Tuesday, Dec. 26, because of the Christmas holiday.

Futures swung between gains and losses...