Already strong U.S. exports climbed higher Tuesday, but a weakening weather outlook and anticipation of a storage injection kept natural gas futures in check. The May Nymex contract debuted as the prompt month by falling 3.0 cents day/day to $2.623/MMBtu. June shed 2.7 cents to $2.681.

Forward Basis Curves

Cash prices, in contrast, climbed on Tuesday amid a Midwest cool front that was expected to push east in coming days. NGI’s Spot Gas National Avg. gained 4.5 cents to $2.330.

The April futures contract rolled off the board Monday after settling at $2.586, down more than 20 cents month/month. While it gathered momentum over several sessions late in its run, the April contract ultimately was held back by ongoing forecasts for comfortable spring temperatures and fading heating demand.

The May...