It won’t be death by a thousand cuts for natural gas. It’ll be far less than that after an increasingly bearish December weather outlook slashed another hefty chunk off natural gas prices to start the week, leaving prompt-month prices down about $1.20 since last Monday (Nov. 29). With production recovering from recent lows and sitting near 2021 highs, the January Nymex gas futures contract plummeted 47.5 cents to $3.657.

markets

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

Spot gas prices, however, bounced back as a cold shot is forecast to sweep first across the Rockies, then the Midwest and finally the Northeast over the next few days, boosting demand. NGI’s Spot Gas National Avg. climbed 9.5 cents to $3.960.

Late last week,...