The NYMEX January natural gas futures contract continued its downward slide Tuesday, dropping 6.8 cents to settle at $1.826/MMBtu as warm weather forecasts continue to put significant pressure on the contract. The National Weather Service’s six- to 10-day forecast calls for unusually warm weather in the Northeast, Upper Midwest, Midcontinent and Southeast. Its eight- to 14-day outlook calls for above-average temperatures in the Northeast, Mid-Atlantic and Upper Midwest. Below-average temperatures are expected in the western third of the country. As a result of the mild weather in December, average US demand has been just 76.6 Bcf/d, 6.4 Bcf/d lower compared with the same period a year ago. Gene McGillian, senior analyst for Tradition Energy, said in an interview that these are dark days for the gas market. “The question should be where the bottom of this slide is,” McGillian said, adding that he thinks the next level of support […]