Natural gas prices advanced Monday following a fierce winter storm in the East and ahead of another deep freeze that ignited production curtailment fears. The anticipated blasts of cold also amplified expectations for lofty storage withdrawals and sent the March Nymex gas futures contract up 23.5 cents day/day to settle at $4.874. April rose 20.2 cents to $4.675.

storage chart

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

Monday’s gain marked the eighth straight for futures.

NGI’s Spot Gas National Avg., meanwhile, declined $1.120 to $6.590 after surging last week. Prices had jumped ahead of a weekend blizzard that blanketed the Northeast. The storm dumped eight inches of snow on New York City and a one-day record 23.8 inches on Boston,...