The January natural gas contract expired 3.8 cents lower on Thursday, December 27th to settle at $3.354/MMbtu.  This represents a 9.25% decline from the December 2012 settlement.  Although January 2013 settled 8.75% higher than January 2012, it is still one of the lowest January settlements experienced in more than 10 years.  The extended bearish weather forecast into mid- January has the New Year beginning in a weak fashion.

View/Download NYMEX Gas Context Expiration Chart for December 2012