The NYMEX January natural gas futures contract settled 3.2 cents lower Wednesday at $1.79/MMBtu on continued mild weather around the US. The January 2016 contract has been partying like it’s 1999, or actually trading like it, hitting fresh lows every day this week. Wednesday’s close was the lowest prompt-month settlement since it hit $1.759/MMBtu on March 24, 1999, a price now in the contract’s sights. The National Weather Service’s six- to 10-day forecast calls for unusually warm weather in the Northeast, Upper Midwest, Midcontinent and Southeast. The eight- to 14-day outlook also calls for above-average temperatures across most of the country, with the western one-third expected to be slightly below average. “The natural gas market remains under downward fundamental pressure from a temperature forecast that continues to trend relentlessly warmer,” Citi Futures Perspective analyst Tim Evans said in an email. Article continues below… Total demand in the Lower-48 states […]