Weekly natural gas cash prices slumped amid unseasonably mild temperatures and light heating demand throughout the eastern United States.

Natural gas storage

NGI’s Weekly Spot Gas National Avg. for the Nov. 8-12 period dropped 59.5 cents to $4.690.

Conditions were comfortable throughout the Lower 48 early in the week and, while colder air blew into the Upper Midwest and Great Lakes by midweek, benign conditions permeated the densely populated eastern reaches of the country through the covered period.

Hubs across the Lower 48 had backtracked by the week’s close. Chicago Citygate fell 60.0 cents to $4.740, while Waha shed 49.5 cents to $4.355 and OGT lost 77.0 cents to $4.295.

“This time of year it’s all about the weather, and we need to see more cold before these prices can move up and...