Natural gas futures retreated a bit Tuesday as the latest weather models showed the cooler pattern expected in early November quickly fading. Though losses were far steeper earlier in the session, the November Nymex futures contract settled only 1.6 cents lower day/day at $5.882/MMBtu. December slid 5.3 cents to $6.003.

Forward Prices

At A Glance:

  • Weather models show only brief cold spell
  • Market observers see room to grow for prices
  • Cash slides as fall weather set to return to Gulf Coast

Spot gas prices also started to buckle in most of the United States, though some locations continued to strengthen on bouts of early-season chilly weather. NGI’s Spot Gas National Avg. slipped 1.5 cents to $5.550.

Notwithstanding the brief surge to $6.000 on Monday, natural gas futures have struggled to...