Natural gas futures sank Monday as warmer forecasts and rebounding production volumes weighed on outlooks, with the February contract volatile on its last trading day.

At A Glance:

  • NGI models 190 Bcf draw 
  • Southeast bucks warm trend
  • Production recovery continues

The February Nymex gas futures contract dropped 22.2 cents day/day to settle at $2.490/MMBtu. The March contract, which takes over as the prompt month Tuesday, fell 12.1 cents to $2.054.

NGI’s Spot Gas National Avg. rose 20.0 cents to $2.620. Gains were driven by colder weather in the East.

[Want to visualize Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.]

The March contract is already trading at the lowest level for the prompt-month price...