Coming off a week in which natural gas futures tumbled nearly 30 cents at the front of the curve, the Nymex March contract appears to be trying to find a bottom. The prompt month traded mostly range bound throughout Monday’s session before ultimately settling 4.7 cents higher at $2.457/MMBtu.

Morning Markets Coverage

At A Glance:

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

Spot gas prices continued to decline, however, as temperatures moderated significantly following last week’s Arctic blast. NGI’s Spot Gas National Avg. fell 55.0 cents to $2.515.

Predictions from Pennsylvania’s famous groundhog notwithstanding, the latest weather models depict a rather mild pattern for the next couple of weeks that could quickly reverse Monday’s modest gain along the...