March Nymex natural gas futures sank another 8.0 cents as the market searched for a low that would coax producers to trim output amid dashed hopes for enough cold weather to tighten supplies ahead of the shoulder season.

At A Glance:

  • March futures crumble 8.0 cents
  • No demand support from weather
  • Producer signals strong output

The prompt-month contract settled the Wednesday regular trading session at $1.609/MMBtu. March futures cratered to a three-and-a-half-year low of $1.590 before inching off the mark to the slightly higher finish.

NGI’s Spot Gas National Avg. slid 30.0 cents to $1.660 amid a respite from brief periods of cold weather.

“We’ve managed to lose enough heating degree days (HDD) in the last few days to push this winter to the warmest ever,” said...