Natural gas futures found their way forward on Monday, marking only the second advance of 2023 so far.

At A Glance:

  • Demand picture may brighten
  • Production remains elevated
  • Market sees weak storage print

After losing 17% the week prior amid forecasts for the mildest January weather in nearly two decades, the February Nymex gas futures contract on Monday gained 20.0 cents day/day and settled at $3.910/MMBtu. March rose 17.1 cents to $3.563.

NGI’s Spot Gas National Avg. advanced 71.5 cents to $5.850.

[Want to visualize Henry Hub, Houston Ship Channel and Chicago Citygate prices? Check out NGI’s daily natural gas price snapshot now.]

NatGasWeather said forecasts heading into Monday trading continued to show “exceptionally warm and bearish” conditions for the Lower 48...