The NYMEX December natural gas futures contract, in its final day of trading Monday, jumped 14.7 cents to settle at $3.232/MMBtu as increasingly supportive weather forecasts bolstered the market. The December contract has rallied over the last seven trading sessions, rising 52.9 cents since November 17 to expire Monday at the highest prompt-month expiration price since the December 2014 contract expired at $4.282/MMBtu. Analysts at Tudor Pickering Holt in a market note Monday said that the weather/forecasts are “looking normalish” over the next three weeks, which could help to start the process of “pulling down storage overhang.” In addition, despite a slow start to winter demand, the possibility still exists for gas prices “to see $3.75[/MMBtu] Q1 prices” if cold weather patterns persist, the analysts said. Article continues below… The Case for a Bullish US Gas Market in 2017 December 20, 2016 | 1 PM MST Register for our […]