Natural gas futures on Tuesday fell for a third consecutive session as cooling demand remained elusive and production levels held strong. Following an 18.5-cent drop the prior session and a loss to end last week, the June Nymex gas futures contract settled at $2.321/MMBtu on Tuesday, down 7.9 cents day/day. July shed 6.2 cents to $2.489.


NGI’s Spot Gas National Avg. fell 8.0 cents to $2.020.

Production held above 100 Bcf/d on Tuesday and near spring highs, according to Bloomberg estimates. Overall output remains steady despite maintenance projects and Western Canadian wildfires that have interrupted production in Alberta – and imports into the western United States – this month.

Weather conditions, meanwhile, remain bearish. The mild weather that permeated much of the...