Natural gas crumbled for a third straight day as weather models continued to struggle in showing a return of colder weather later this month. News that a railroad strike was averted and that Freeport LNG further delayed its initial restart added bearish pressure to the market.


At A Glance:

  • Railroad strike averted
  • Freeport restart delayed
  • Weekend discounts for cash

The January Nymex gas futures contract settled Friday at $6.281/MMBtu, off 45.7 cents from Thursday’s close. Notably, double-digit losses spread through the March 2024 contract.

Spot gas prices plummeted alongside futures amid softening demand ahead of the weekend. NGI’s Spot Gas National Avg. fell $1.370 to $6.155.

After a frigid start to the winter season, December’s outlook has grown increasingly...