• Weather forecasts held on to slightly cooler expectations
  • LNG and production levels were both strong
  • Cash prices were led lower by drops in the Northeast

Natural gas futures posted a modest gain Tuesday, marking a third consecutive day of advances as traders contemplated a mixed weather outlook and wide-ranging expectations for this week’s early storage report.

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The December Nymex contract advanced 6.4 cents day/day to settle at $2.775/MMBtu. January rose 7.7 cents to $2.900.

NGI’s Spot Gas National Avg. fell 11.0 cents to $2.320. Colder northern temperatures moved in on Monday and hung around Tuesday, but warmer conditions were expected by Wednesday.

While mid-range forecasts were bearish at the start of the week, with temperatures expected to be above normal across...