In a week that started slowly as traders mulled modest shifts in weather forecasts, weekly natural gas cash prices ultimately finished in the red, dragged down by a midweek drop that coincided with the arrival of unseasonably warm air in the Upper Midwest.

EIA storage Nov 13

Cash prices sank 37.5 cents on Wednesday, more than erasing a modest gain earlier in the week, as rising production overlapped with mild central U.S. temperatures that eventually pushed east and sapped national heating demand.

Comfortable conditions hung around the rest of the week – amplified by forecasts for warmth deep into November and beyond – pushing spot prices down a bit more Thursday before they recovered some ground on Friday.

NGI’s Weekly Spot Gas National Avg. for the Nov. 16-20 period finished down 18.0...