Following steep selloffs through most of October, bargain-hungry traders dived back into the spot market in the past week, but it was not enough to offset steep losses in West Texas, and weekly cash prices fell as a result.

NGI’s Weekly Spot Gas National Avg. for the Oct. 24-28 period lost 50.0 cents to $4.485.

As the trading week closed, El Paso Permian was down $3.675 to 48.5 cents, while Oneok WesTex was off $3.285 to 92.5 cents and Waha was down $3.655 to 52.5 cents.

The November Nymex contract gained ground before rolling off the board Thursday at $5.186/MMBtu, up 5% from the prior week’s finish. The December contract, however, took over as the front month on Friday and shed 19.1 cents day/day to $5.684.

Fundamentals during the week favored bears. Weather-driven...