Natural gas futures kicked off the trading week Monday on a sour note as forecasted weather demand eased, production ticked up and power burns were light.

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At A Glance:

  • Production at 96.5 Bcf/d
  • Uneven weather outlook
  • Storage situation improves

The June Nymex contract shed 2.0 cents day/day and settled at $2.886/MMBtu. July fell 1.7 cents to $2.960.

NGI’s Spot Gas National Avg. rose 5.5 cents to $2.700, however, lifted by cooling demand in the West.

Both the American and European weather models on Monday showed cooler shifts by the coming weekend and into the start of next month. While actual temperatures this week were expected to rise above normal over parts of the East, highs were forecasted to peak by Friday and then cool notably over the long Memorial Day weekend...