Natural gas futures extended losses into a fifth consecutive session Monday as fundamental support continued to evade, leaving little for the market to latch onto to drive March Nymex natural gas out of the basement and off more than three-year lows.

At A Glance:

  • Futures tumble 7.9 cents 
  • Bearish fundamentals persist
  • West Texas bucks cash uptrend

The front-month settled at $1.768/MMBtu, down 7.9 cents from Friday. March futures moved as low as $1.732 and as high as $1.863 during the regular trading session. April futures settled at $1.800, down 8.5 cents.

NGI’s Spot Gas National Avg. jumped 36.5 cents to $2.115 as sleepy Old Man Winter was expected to open his eyes briefly and boost demand for heating across portions of the Lower 48. West Texas bucked the uptrend.

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Related topics: Algonquin Citygate April Lower 48 March NYMEX production Transco

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