Natural Gas Prices Remain Volatile Amidst Cold Weather Forecasts and Technical Indecisiveness

Natural gas futures rose slightly on Monday following colder weather forecasts over the weekend, with the April Nymex contract up 7.2 cents to $2.410/MMBtu. The European model predicted a notably chillier outlook compared to its American counterpart, with a chilly weather system expected to race across the northern US from March 27-29. However, the market remains vulnerable to near-term downside from a number of bearish factors, including declining daily weather-driven demand later this week and recent heavy selling in crude oil futures.