Natural gas futures fumbled away momentum like any college football opponent of Georgia, with the February Nymex gas futures contract dropping 27.1 cents day/day amid forecasts for more bearish weather and meager storage pulls. The prompt month settled at $3.639/MMBtu on Tuesday, erasing the prior session’s 20.0-cent gain. March lost 24.9 cents to $3.314.

California Prices

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

The February contract fell 17% last week.

NGI’s Spot Gas National Avg. followed a similar path, sliding 43.0 cents to $5.420 on Tuesday after gaining 71.5 cents to start the week.

“Most important, the overnight weather data maintained near-record warmth over the U.S. the next 13 days for exceptionally light demand but...