Mild weather and ample natural gas supplies again combined Monday to drag down natural gas prices across the northern hemisphere. 

“Natural gas prices are under significant pressure to open the week with global benchmarks tumbling across U.S. and European markets,” said Schneider Electric analyst Robbie Frasier. 

“Much of that weakness can be attributed to continually mild weather conditions,” he added. “Over the near-term, Europe is expected to see mostly above-average temperatures, which could curb some demand for LNG imports.”

Warmer temperatures, strong wind output and ongoing lower industrial demand amid weak economic indicators pushed European benchmark prices 8% lower on Monday. The prompt Title Transfer Facility finished below $13/MMBtu after falling 2%...