Natural gas futures on Tuesday forged ahead for the first time in six sessions, supported by production hiccups and expectations for a near-record storage draw.

At A Glance:

  • Massive storage draw expected
  • Production slows modestly day/day
  • Midweek warm-up looms

The February Nymex gas futures contract rose 3.1 cents to $2.450/MMBtu. The contract fell to an intraday low of $2.325 in choppy trade during the morning, then moved sharply higher in the afternoon.

NGI’s Spot Gas National Avg. fell 20.0 cents to $2.245 to extend its slide to a third session. The National Avg. price is well off its $6.220 level a week ago as well as a winter high of $16.770 that preceded last week’s bone-chilling cold across the country. 

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