Weekly natural gas spot prices trended lower as soft weather-driven demand overshadowed fresh signs of lower production and more output cuts to come.

NGI’s Weekly Spot Gas National Avg. for the holiday-shortened February 20-23 trading period fell 23.5 cents to $1.550.

Leading cash price decliners for the week included Southern Border, PG&E in the West, off 49.0 cents to $1.805, and Dracut in the East, down $2.235 to $2.825.

What’s more, early in the week, El Paso Natural Gas Pipeline declared a force majeure on its Line 2000, backing up Permian Basin flows. Waha prices slumped as a result, falling 36.0 cents to 55.0 cents

Meanwhile, the March Nymex contract struggled most of the week, though a brief midweek spike helped the prompt month to avoid a steep weekly drop. It...