• Production, LNG demand retreat
  • Exports to Mexico tracking above projections, but summer heat still key
  • Cold weather lifts Northeast cash prices

After a meaningful step higher over the past week or so, natural gas futures steadied a bit on Tuesday and traded in a tight range. Small deviations in supply and demand ultimately sent the May Nymex contract down 2.2 cents to settle at $2.727, while the June contract slipped 1.5 cents to $2.803.

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Spot gas prices were higher on Tuesday, with gains finally catching on across the East amid the colder outlook for the week. NGI’s Spot Gas National Avg. climbed 6.0 cents to $2.650.

Though fluctuations in weather don’t often matter much this time of the year, the latest models continued to show stronger-than-normal national demand...