Natural gas futures fell on Monday for a fourth session as the possibility of an early season storage build later this week outweighed cooler weather trends into late March.


At A Glance:

  • NGI models 3 Bcf withdrawal
  • National Avg. notches new 2024 low
  • West Texas cash prices flip negative

The April Nymex contract settled at $1.759/MMBtu, down 4.6 cents day/day. The contract had traded as high as $1.841 overnight.

NGI’s Spot Gas National Avg. fell 7.5 cents to $1.345, its lowest level since October 2020. The previous 2024 low was $1.370 on Feb. 26. All regions posted declines, including West Texas slumping back into negative territory.

“The fundamental aftershocks of extreme bearish weather are proving difficult to shake,” EBW Analytics Group analyst Eli Rubin said....