Natural gas futures on Tuesday effectively punctuated the steep losses posted a day earlier, as markets absorbed news of lower liquefied natural gas (LNG) levels and expected demand impacts from Tropical Storm Beta, the latest severe weather development to menace the Gulf of Mexico (GOM).

PM Markets

The October Nymex contract fell a tenth of cent day/day and settled at $1.834/MMBtu, one day after it plunged more than 21 cents. November dropped 11.3 cents to $2.597 as forward expectations about storage surpluses came into sharper focus and weighed down prices along the winter strip.

Spot gas prices, meanwhile, recovered from losses a day earlier. NGI’s Spot Gas National Avg. rose 11.5 cents to $1.525.

Scheduled feed gas flows to U.S. LNG terminals dropped more than 20% from Friday to...