Natural gas futures faltered midweek, erasing the prior two days’ gains as traders looked ahead to growing storage surpluses later this month amid ongoing warmth across most of the country. The March Nymex gas futures contract settled Wednesday at $2.396/MMBtu, down 18.0 cents on the day. April futures slid 18.7 cents to $2.477.

At A Glance:

  • Production fully recovered
  • Storage surplus seen swelling
  • Cash prices mostly steady

Spot gas prices, meanwhile, were mixed as rain and cooler air dropped into the central United States. NGI’s Spot Gas National Avg. edged up 9.5 cents to $2.755.

Another bout of chilly weather may be around the corner for the Midwest and East Coast, but the coming cold snap is expected to be fleeting.

NatGasWeather said milder weather would quickly...