U.S. natgas futures drop 6% on forecasts for less cold, rising output

U.S. natural gas futures fell about 6% on Monday as output recovered from Winter Storm Landon and forecasts pointed to less cold and lower heating demand over the next two weeks. March NYMEX futures dropped to about $4.30 per mmBtu.

Landon had cut gas output by roughly 7.2 bcfd, far less than Winter Storm Uri in 2021.