# NatGas Bears Not Heeding Groundhog's Prognosis; Spot Market Losses Widespread

> Cash natural gas prices weakened for a second straight day as a forecast warm-up eased East Coast premiums, with the NGI National Spot Gas Average falling 69 cents to $2.92/MMBtu. Futures also slid over the week as prompt-month prices fell from $3.631 to as low as $2.837 after a change in the February cold outlook and recovering production from January freeze-offs.

- Date: 2018-02-02 · published 2018-02-02T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/66666-natgas-bears-not-heeding-groundhog-s-prognosis-spot-market-losses-widespread
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Weaker spot prices and recovering output point to ample near-term gas supply, which pressures natural gas prices and feed-energy costs for buyers.

## Read by commodity

- NATGAS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2016-11-03 | [Natural Gas Bears Take Over the Market - Burton Energy Group](https://feedsoft.ai/events/9175-natural-gas-bears-take-over-the-market-burton-energy-group.md) | -8.1% | +25.5% |
| NATGAS | 2020-09-14 | [Natural Gas Market is Poised for a Wild Ride this Fall - Burton Energy Group](https://feedsoft.ai/events/8357-natural-gas-market-is-poised-for-a-wild-ride-this-fall-burton-energy-group.md) | -14.6% | +18.7% |
| NATGAS | 2022-10-14 | [Natural Gas Prices Suffer Longest US Losing Streak in 21 Years - Bloomberg](https://feedsoft.ai/events/12788-natural-gas-prices-suffer-longest-us-losing-streak-in-21-years-bloomberg.md) | -19.5% | -15.7% |
| NATGAS | 2023-11-29 | [US natural gas prices slide - Markets - Business Recorder](https://feedsoft.ai/events/33342-us-natural-gas-prices-slide-markets-business-recorder.md) | -1.0% | -4.3% |
| NATGAS | 2023-01-03 | [U.S. natgas price collapse cut 2023 widow maker premium to record low \| BOE Report](https://feedsoft.ai/events/9187-u-s-natgas-price-collapse-cut-2023-widow-maker-premium-to-record-low-boe-report.md) | -4.8% | -32.8% |

## Sources

- naturalgasintel.com: https://naturalgasintel.com/news/natgas-bears-not-heeding-groundhogs-prognosis-spot-market-losses-widespread/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.