Forecasts for dramatic warm-up after this week’s snowy, chilly week sent natural gas futures prices tumbling on Monday. The November Nymex gas futures contract plummeted 45.4 cents to $5.999/MMBtu, while December futures dropped 34.8 cents to $6.479.

At A Glance:

  • Weather models agree on warmth’s return
  • Production recovers above 100 Bcf/d
  • Chilly temperatures seen through Thursday

Spot gas prices recovered from Friday’s levels, however, on heightened gas demand amid the plunging temperatures across the Midwest and East. Highs are expected to top out in the 50s and overnight lows could plunge into the teens in some areas. This helped lift NGI’s Spot Gas National Avg. 35.0 cents to $5.600.

This week’s cold front notwithstanding, a more prolonged period of wintry...