Natural gas futures flopped a second consecutive trading day as the weather outlook for later this month and early next pointed to milder conditions and easing demand. The January Nymex gas futures contract settled at $5.851/MMBtu on Monday, down 74.9 cents day/day. February fell 59.3 cents to $5.710.

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At A Glance:

  • Forecasts for soft start to 2023
  • Strong near term demand
  • Production threatened by freeze

NGI’s Spot Gas National Avg., in contrast, pushed ahead 7.5 cents to $11.405 amid strong near-term consumption.

Forecasts to start the trading week showed Arctic cold advancing from the northern reaches of the country further south later this week and into the weekend, driving robust demand and supporting cash prices. Sub-zero highs are expected in northern markets and...