Facing a mild December forecast and record-level production flowing into the market, regional natural gas forwards underwent widespread selling during the Nov. 22-29 period, NGI’s Forward Look data show.

January fixed prices at benchmark Henry Hub sold off 17.8 cents to end the period at $2.819/MMBtu, and January discounts of around 15 cents or more were typical for much of the country, according to Forward Look.

However, with a transient late-November cold spell delivering frosty conditions regionally, traders in the Mid-Atlantic and Northeast appeared unwilling to give up on winter upside just yet.

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