Natural gas futures rebounded Tuesday – but not by much – after weather data teased that Old Man Winter had a few more rounds in him. After climbing as much as 15.0 cents day/day, the March Nymex gas futures contract ultimately settled only 1.6 cents higher at $4.248.

At A Glance:

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

Cash prices took a bit of a breather following a string of hefty declines, with losses far more moderate in Tuesday trading. NGI’s Spot Gas National Avg. slipped 12.0 cents to $4.615.

Most of the country is experiencing a reprieve from the Arctic conditions that had descended as far south as Texas in recent days, with polar air retreating into Canada. However, the potential for returning cold resuscitated bulls,...