• Weather models trend even warmer, sinking natural gas futures
  • LNG demand hits new high
  • Cash slides as moderate weather blankets much of U.S.

Though not completely unexpected, natural gas futures cratered Monday as long-range weather outlooks grew even milder. With December on track to come in within the Top 10 warmest on record, the January Nymex gas futures contract settled at $2.406, down 16.9 cents from Friday’s close. February dropped 15.3 cents to $2.433.

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Spot gas prices also weakened as mostly comfortable temperatures were forecast for the United States. NGI’s Spot Gas National Avg. fell 12.5 cents to $2.405.

After dropping hints last week that the atmospheric pattern taking shape would portend a warm December, all guidance “congealed more solidly” around the...