Natural gas futures retreated for a second session Monday, chased by another record production reading and warmer forecasts for early December. The December Nymex natural gas futures contract settled at $2.794/MMBtu, down 6.1 cents day/day. January fell 5.3 cents to $2.946.


At A Glance:

  • December Nymex falls to $2.794
  • National Avg. surges to $3.720
  • NGI models a 9 Bcf withdrawal

December futures touched an intraday low of $2.709 early in the morning, then trended higher the rest of the day.

Spot gas prices, meanwhile, climbed as frigid weather was expected to generate the strongest gas demand of the heating season so far. NGI’s Spot Gas National Avg. surged 75.0 cents to $3.720. The average was bolstered by outsized gains in the Northeast, where lows could fall to the teens...