Natural gas prices were tracking lower for March baseload delivery as the stubborn cold that has driven up heating demand since the turn of the new year was seen finally dissipating in the coming weeks, according to data collected for NGI’s Bidweek Alert.

Prices in the Midcontinent, where a series of winter storms continued to dump rain, snow and ice on Tuesday, posted a substantial decline from February bidweek levels. OGT baseload gas prices for March were seen around $4.350/MMBtu, off from a $7.395 average for February baseload. Similarly, Ventura traded in a range from $4.450 to $4.570 on Day 1 of the March bidweek trading period, down from an average of $6.025 last month.

Over in the Rockies, where another round of wintry weather – and potentially record-breaking cold...