Above-average temperatures across much of the continental US this winter could limit gas demand for heating, a forecast published Thursday by the US National Weather Service showed. A series of outlooks extending from December to February predicted a 33% to 50% chance for warmer-than-normal weather in almost every US region, excluding portions of the Midwest and Plains. The forecast poses downside risk for gas prices during the coldest months of winter when the market has historically rallied to annual highs, which topped $4.70/MMBtu at the Henry Hub last season. After approaching $2.90/MMBtu earlier this month, the December-January-February forward strip price at the benchmark US gas hub has already witnessed a steady decline, settling Wednesday at an average $2.58/MMBtu, S&P Global Platts M2MS data shows. The Weather Service forecast now poses […]