March Nymex natural gas (NGH26) on Monday closed down by -0.284 (-8.30%).
March nat-gas prices on Monday sold off to a 3-week low and settled sharply lower on the outlook for warmer temperatures across large parts of the US, which will likely reduce nat-gas heating demand. The Commodity Weather Group said Monday that above-average temperatures are expected across the Midwest and South through February 20. Nat-gas prices also have some negative carryover from last Friday when Baker Hughes reported that active US nat-gas drilling rigs increased to a 2.5-year high, suggesting higher near-term gas production.
