Natural gas futures rebounded Tuesday – but not by much – after weather data teased that Old Man Winter had a few more rounds in him. After climbing as much as 15.0 cents day/day, the March Nymex gas futures contract ultimately settled only 1.6 cents higher at $4.248.

Texas Eastern Prices

At A Glance:

  • Production at 96.5 Bcf/d
  • Uneven weather outlook
  • Storage situation improves

Cash prices took a bit of a breather following a string of hefty declines, with losses far more moderate in Tuesday trading. NGI’s Spot Gas National Avg. slipped 12.0 cents to $4.615.

Most of the country is experiencing a reprieve from the Arctic conditions that had descended as far south as Texas in recent days, with polar air retreating into Canada. However, the potential for returning cold resuscitated bulls, who...