Natural gas futures on Tuesday slumped for a second day, weighed down by weaker LNG volumes and forecasts for anemic weather-driven demand through much of May. The June Nymex gas futures contract fell 10.4 cents day/day and settled at $2.214/MMBtu. July lost 8.1 cents to $2.417.

Northeast Prices

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

The prompt month had lost 9.2 cents the previous session.

NGI’s Spot Gas National Avg. slid 9.5 cents to $2.020 on Tuesday.

Liquefied natural gas exports, generally a pillar of support for futures this year, were soft Monday and remained down 1.5 Bcf/d on Tuesday relative to highs around 15.0 Bcf/d last week. This was largely because of maintenance work, according to EBW Analytics Group LLC.