Natural gas futures tumbled a second consecutive day as weather models leaned increasingly bearish for much of November, offsetting continued liquefied natural gas (LNG) strength and anticipation for the first withdrawal from storage of the season. Election Day uncertainty may also have sidelined some traders.

Markets

The December Nymex contract fell 18.5 cents day/day and settled at $3.059/MMBtu on Tuesday. The prompt month lost 11.0 cents a day earlier. January shed 18.0 cents to $3.195.

Spot gas prices also declined as comfortable temperatures settled in across most of the country. NGI’s Spot Gas National Avg. declined 20.0 cents to $2.625.

In fact, the already challenging weather outlook grew increasingly discouraging for gas prices, forecasters said...