U.S. natural gas futures fell for a fourth straight session as weekend forecasts removed cold from the first half of January. Nymex gas settled down 2.6% at $3.523/mmBtu.
Analysts said more than half of winter remains, but a sharper late-January cold spell is needed to halt the decline.
Lower forecast heating demand reduces near-term gas burn and storage draw expectations, pressuring prices. Upside depends on colder late-January weather.
After 104 past bearish weather events, Natural Gas moved a median -7.8% over 5 sessions (22% higher; middle half -14.8% to -0.8%), and -3.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Fourth straight losing session as weekend forecasts removed cold from early January, a demand-driven sentiment shift.