Just as a rally started to mount, natural gas futures stumbled on Tuesday and dashed hopes for a three-day winning streak. Strong liquefied natural gas (LNG) levels had propelled the prompt month over the two prior trading sessions, but continued forecasts for weak domestic weather demand curbed the momentum.

Evening Markets

The April Nymex contract shed 7.4 cents day/day and settled at $2.508/MMBtu Tuesday. May fell 6.5 cents to $2.554.

NGI’s Spot Gas National Avg. inched ahead 1.0 cent to $2.320.

LNG feed gas volumes hovered close to 12 Bcf/d late last week – around record levels — and have held comfortably above 11 Bcf this week, thanks in part to strengthening European demand for U.S. exports.

This strength is linked to “declines in European storage, suggesting that U.S....