Natural gas futures stabilized on Tuesday, supported by a cold front, eased production and strength in cash markets Coming off a 17.2-cent drop in its debut as the front month a day earlier, the March Nymex gas futures contract on Tuesday settled at $2.684/MMBtu, up seven-tenths of a cent day/day. April rose 1.0 cent to $2.741.

Northeast Prices

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

NGI’s Spot Gas National Avg. gained 73.5 cents to $5.310.

Freezing weather spread from the Mountain West and Midwest to the South and the East on Tuesday. Cold conditions were expected to endure across much of the Lower 48 the remainder of the trading week, galvanizing heating demand.

The harsh winter weather also temporarily interrupted production as...