Natural gas futures plummeted on Monday as weekend weather models shed a huge amount of demand from the 15-day outlook. Though LNG demand hit a fresh high amid a key export facility’s return of operations, the April Nymex contract settled 43.7 cents lower at $2.572/MMBtu. May futures dropped 41.1 cents to $2.730.

At A Glance:

  • Weather data trends much warmer
  • LNG demand hits fresh high
  • Big cash gains on West, East coasts

Spot natural gas prices were mixed, with the West Coast and Northeast posting sharp increases while most other U.S. locations softened from Friday. NGI’s Spot Gas National Avg. ultimately climbed 15.0 cents to $3.445.

There is another bout of chilly air on the way. NatGasWeather said U.S. demand would increase beginning Wednesday as colder-than-normal...