Unable to escape a bearish fundamental outlook informed by production outperformance and mild December weather, regional natural gas forwards saw heavy discounts during the Nov. 30-Dec. 6 trading period, NGI’s Forward Look data show.

National benchmark Henry Hub fell to $2.575/MMBtu for January delivery, a 24.4-cent slide versus week-earlier prices.  

Winter bulls found little refuge throughout the rest of the Lower 48. In the Midwest, January fixed prices at Chicago Citygate tumbled 33.6 cents for the period to end at $3.084. In the Rockies, Cheyenne Hub plunged 41.7 cents to $2.977 for January.

Sub-$2.50 Gas To Curb Production?

Much of the bearish move week/week coincided with a steep plunge in Nymex futures on Wednesday, when contracts fell by double digits across the...