Heading into its first full session as the front month, November natural gas futures sold off in early trading Tuesday as analysts pointed to weakness in the physical market as a source of downward price pressure. 

AM markets

The November Nymex contract was down 11.8 cents to $2.677/MMBtu at around 8:50 a.m. ET.

The early selling Tuesday followed a volatile last day of trading for the October contract, which traded as high as $2.176 and as low as $2.020 before rolling off the board Monday at $2.101.

“While volatility is not unusual on the day the front month expires, Monday’s erratic trading was due in part to pipeline outages at Sabine Pass and Corpus Christi, which reduced feed gas flows by nearly 1.4 Bcf/d from weekend levels,” analysts at EBW Analytics Group said. “Coupled...