• March futures slip as weather models lack clarity on additional cold
  • Storage seen rapidly falling to sharp deficits in the coming weeks
  • Cash prices return to more normal levels as temperatures warm

Natural gas futures were down sharply in early trading Monday, pressured by a warmer weather outlook and production coming back online following last week’s cold-related disruptions. The March Nymex contract was down 13.8 cents to $2.931/MMBtu at around 8:50 a.m. ET.

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After a week in which the term “volatile” may be the understatement of the year, natural gas prices in both the futures and spot gas markets ended Friday on a much quieter note. Still trying to digest the past week’s crippling Arctic blast and the long-term implications it may have on natural gas, traders pushed...