Value continued to erode in regional natural gas forwards markets during the Jan. 26-Feb. 1 trading period as forecasts showed this month was poised to carry over the same warm-dominated themes that have collapsed prices winter-to-date.

March fixed prices at benchmark Henry Hub sank 44.7 cents to end the period at $2.473/MMBtu, and regional hubs throughout the Lower 48 followed suit by posting fixed price discounts ranging from around 20.0-90.0 cents, NGI’s Forward Look data show.

A notable outlier was in the Pacific Northwest, where March fixed prices at Northwest Sumas climbed 67.1 cents week/week to $4.490.

Electronic bulletin board notices indicated congestion upstream on the Westcoast Energy Inc. system in British Columbia during the period, including an “unplanned...