Natural gas futures fell for a second day Friday as winter’s apparent absence in early March forecasts was poised to add further to the country’s mounting inventory surplus. 

At A Glance:

  • Output slips to 101 Bcf/d
  • March forecasts stay warm
  • Mild weather into weekend

The April Nymex gas futures contract settled at $1.835/MMBtu, down 2.5 cents day/day. The contract traded across a range of $1.810 to $1.888.

NGI’s Spot Gas National Avg. fell by 7.5 cents to $1.405. That’s above its 2024 low of $1.370 notched at the start of the week.

Production fell by 1.8 Bcf/d day/day to around 101.0 Bcf/d on Friday, according to Wood Mackenzie estimates. The East and Mountain regions accounted for much of the drop, but could be revised higher as the firm projected both regions’...