• Scheduled gas flows to U.S. LNG terminals dropped more than 20% from Friday to Monday
  • The prompt month closed below $2.000 for first time since early August
  • Spot gas prices declined as overall weather patterns diminished cooling demand

Natural gas futures plunged on Monday as traders digested weaker liquified natural gas (LNG) volumes, potential demand destruction from a new tropical storm and forecasts for milder temperatures in the Midwest.

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The October Nymex contract settled at $1.835/MMBtu, down 21.3 cents day/day. It marked the first time since early August that the prompt month closed below $2.000. Futures had rallied last month and reached a high amid the coronavirus of $2.743 on Aug. 28, despite festering supply/demand imbalance concerns imposed by the...