Volatility abounded Tuesday as natural gas futures quickly gave back the gains they accumulated at the top of the week. Pressured by weaker power burns, the September Nymex gas futures contract settled at $3.837, off 10.9 cents from Monday’s close. October tumbled 10.9 cents to $3.851.

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At A Glance:

  • LNG volumes hold near 11 Bcf
  • Grace heading to Mexico
  • Coal stealing market share

Spot gas prices also continued to fall amid mostly comfortable temperatures in the eastern half of the country. NGI’s Spot Gas National Avg. slid 13.5 cents to $3.815.

With long-range weather outlooks not deviating much from prior forecasts, futures traders focused on the impact that current mild weather was having on power burns and cash prices. Bespoke Weather Services said power burns were the...