Natural gas futures extended their losses on Monday, with prices tumbling by double digits amid light weather demand and lofty production that has held near the century mark despite maintenance events that have curtailed output. The June Nymex gas futures contract settled 18.5 cents lower at $2.400/MMBtu. July futures dropped 15.6 cents to $2.551.

At A Glance:

  • Production steady near 100 Bcf/d
  • Power burns on the rise
  • Cash prices mixed

Spot gas prices were mixed, with NGI’s Spot Gas National Avg. up 6.0 cents to $2.100.

Despite the low natural gas price environment, volatility is expected to be on full display this week given the upcoming expiration of the June Nymex contract and signs that a slowdown in production growth is nearing.

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