Natural gas futures crashed on Monday as production appeared to be making a quick recovery from the unrivaled Arctic blast that rocked the energy industry last week. Warming weather models also provided a headwind to prices, with the March Nymex gas futures contract tumbling 11.6 cents to settle at $2.953. April slid only 5.5 cents to $2.936.

Industrial demand

Spot gas prices continued to fall too on the much milder weather that settled in over much of the Lower 48. NGI’s Spot Gas National Avg. dropped $1.605 to $2.870.

Though likely not at the same level as last week, futures volatility is expected to remain robust in the coming days, with the March contract set to roll off the board Wednesday. Prompt-month prices were down sharply at the open and remained firmly in the red throughout the...