Coming off a week in which natural gas futures tumbled nearly 30 cents at the front of the curve, the Nymex March contract appears to be trying to find a bottom. The prompt month traded mostly range bound throughout Monday’s session before ultimately settling 4.7 cents higher at $2.457/MMBtu.

At A Glance:

  • Production recovering
  • Weather unsupportive
  • Cash mostly lower

Spot gas prices continued to decline, however, as temperatures moderated significantly following last week’s Arctic blast. NGI’s Spot Gas National Avg. fell 55.0 cents to $2.515.

Predictions from Pennsylvania’s famous groundhog notwithstanding, the latest weather models depict a rather mild pattern for the next couple of weeks that could quickly reverse Monday’s modest gain along the futures curve.

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