Natural gas futures failed to find footing on Wednesday, seesawing between small gains and losses throughout the session before ultimately ticking down amid mild temperatures across the country and a dearth of new price catalysts.

The April Nymex contract settled at $2.816/MMBtu, down 2.3 cents day/day and snapped a two-day win streak to start the trading week. May fell 2.6 cents to $2.849.

Diminished near-term weather demand also dragged spot gas prices lower across parts of the Lower 48 Wednesday. NGI’s Spot Gas National Avg., however, advanced 33.0 cents to $3.170, thanks to a boost from surging prices in the volatile Northeast.

While overnight forecasts shifted moderately cooler for a second consecutive time, pointing to increased heating degree days for a stretch in...