A reversion back to the warm weather pattern that has dominated most of the winter sank March natural gas prices a little more as it rolled off the board. The March Nymex gas futures contract slipped 2.5 cents, expiring at $2.854. The incoming prompt April contract fell a steeper 6.2 cents to $2.795.

Spot gas prices were mixed again. NGI’s Spot Gas National Avg. dropped 2.5 cents to $2.750.

For all the hype about volatility in the March contract ahead of its expiration, price action actually quieted down Wednesday. The prompt month traded in a fairly narrow band amid low volume. Only about 6,600 March contracts were traded on Wednesday, compared with more than 111,000 April contracts.

That’s likely because traders have already closed the book on winter. Weather models...