Natural gas futures kicked off the new week on a low note, slumping alongside warmer trends in weather forecasts, lighter LNG demand and continued robust production levels.
At A Glance:
- Front month sheds 12.8 cents
- Weather outlook adds warmth
- Production holds at 100 Bcf/d
The April Nymex gas futures contract settled at $2.088/MMBtu, down 12.8 cents day/day. May fell 14.6 cents to $2.215.
The prompt month had gained 6.2 cents on Friday, capping an otherwise bearish week overall.
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NGI’s Spot Gas National Avg., meanwhile, gained 28.0 cents to $2.565 and rebounded from losses last week as volatile western prices jumped.
Production topped 100...