Hamstrung by a growing surplus of natural gas in inventories and with a spring-like February running into a mild March, traders tugged natural gas prices lower for March baseload delivery, according to NGI’s Bidweek Alert (BWA).

Losses were largest in the West, where California’s SoCal Citygate traded about $2.20 lower month/month at around $3.170/MMBtu, BWA data showed. In the northern part of the state, PG&E Citygate slid more than $2.40 on the month to $3.050.

After a modest 5 Bcf withdrawal in the Pacific, inventories in the region slipped to 217 Bcf as of Feb. 16, leaving stocks more than 25% above the five-year average.

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