In a stark reversal from the prior week, temperatures climbed rapidly out of freezing territory and into the 60s and 70s across much of the Midwest, cutting off heating demand and driving down weekly cash prices.

EIA storage Oct 30

NGI’s Weekly Spot Gas National Avg. for the Nov. 2-6 period nosedived 61.5 cents to $2.385 as comfortable fall temperatures settled in across most of the Lower 48. A week earlier, when an early shot of winter blanked the nation’s midsection, weekly prices jumped 59.5 cents.  

Between the two weeks, the early winter gave way to a late round of near summer-like weather in the Midwest, and temperatures elsewhere were generally mild, minimizing furnace and air conditioner use.

Bespoke Weather Services said the week’s warmth put the current month on track to finish...