Natural gas forward prices recorded a third straight week in the red as weather models continued to show variability in the forecasts, rather than sustained cold.

Liquefied natural gas (LNG) demand, meanwhile, neared all-time highs as production fluctuated but stood well off summer lows. All the gyrations in the supply/demand balance left the December forward prices off 34.0 cents on average for the Nov. 11-17 period, while losses of more than 20.0 cents extended through the remaining winter months, according to NGI’s Forward Look.

Beyond the peak winter season, price declines were less pronounced. Still, the majority of U.S. locations fell below the $4.00 mark for the summer 2022 strip (April-October) given the improved storage picture in the Lower 48.

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