Natural gas spot prices ended September with a whimper as the majority of U.S. locations slipped into the red amid modest weather-driven demand. Western hubs led the decline as prices there tumbled as much as 49.5 cents week/week, although NGI’s Weekly Spot Gas National Avg. was down far more muted 3.0 cents to $2.150.

Futures prices, meanwhile, proved stubborn in the face of mostly bearish fundamentals. The November Nymex futures contract has spent all but one day in the black since moving to the front of the curve.

Though chillier weather was on the way to the Pacific Coast by Friday, balmy daytime temperatures in the 80s in California kept cooling demand at bay throughout the four-day Sept. 25-28 trading period, which covered gas deliveries from Tuesday to Saturday, the...