In a display of technical trading at work, natural gas futures spent the majority of Tuesday’s trading session firmly in the red before a late rally sent the April Nymex gas futures contract 1.6 cents higher day/day to $2.747/MMBtu. May futures tacked on a penny to $2.863.

Northeast Prices

At A Glance:

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

Spot gas traded mostly sideways across the country, but big swings were seen on the West Coast and in the Northeast. NGI’s Spot Gas National Avg. slipped 21.5 cents to $3.230.

Though weather demand is expected to be light for the remainder of the week, the longer-range models show cold air over the northern Plains spreading south and eastward late this week. Overnight temperatures could dip close to zero in...