Natural futures retreated midweek amid strong production and a mostly mild outlook for the remainder of the month. The March Nymex gas futures contract settled 9.6 cents lower at $2.471/MMBtu, and the April contract slipped 9.7 cents to $2.555.

At A Glance:

Spot gas prices gained ground, however, as the lower price environment is driving coal-to-gas switching in the power generation sector. NGI’s Spot Gas National Avg. climbed 32.0 cents to $3.010.

The ongoing warmth that has pressured futures and cash prices alike in recent weeks is showing few signs of a lasting turnaround based on the latest weather data. Models continue to show only a brief period from Feb....