Having rallied sharply month-to-date, natural gas futures eased lower through midday trading Tuesday as maintenance dinged daily export demand in updated estimates. West Texas physical prices, meanwhile, were climbing out of the negatives.

Here’s the latest:

  • June Nymex futures off 3.0 cents to $2.351/MMBtu as of 2:22 p.m. ET

NatGasWeather on Tuesday attributed the slide in prices to profit taking in the wake of recent gains. Weaker export volumes may have also played a role, according to the firm.

Storage surpluses “remain hefty” and weather patterns were “slightly bearish” for the 15-day projection period, “although that hasn’t mattered much in recent weeks,” NatGasWeather added.

  • Deliveries to U.S. LNG terminals dipping to 12.36 million Dth/d Tuesday,...