Natural gas futures collapsed further on Friday, settling at a level not seen in seven months as widespread warmth was seen continuing longer, limiting gas demand. The November Nymex natural gas futures contract closed out the week at $4.959/MMBtu, down 39.9 cents from Thursday’s close and off $1.494 from a week earlier (Oct. 14).


At A Glance:

  • Weather ‘emphatically’ bearish
  • Sell-off longest in six months
  • $3 cash ahead of mild weekend

Spot gas prices also declined amid the typical pre-weekend sell-off, along with mild weather. NGI’s Spot Gas National Avg. tumbled 89.5 cents to $3.735.

After some disagreement among major weather models that left open the possibility of cold weather returning soon, Friday’s dramatic sell-off along the Nymex strip instead reflected...