• Natural gas futures slip on increasing supply, warm outlook
  • Storage draw expectations well over 300 Bcf, second largest on record
  • Cash prices mixed on moderate temperatures this week

Natural gas futures slipped deeper into the red on Tuesday as supply ramped up following last week’s historic winter storm. Weather models also continued to favor a mostly mild pattern in the weeks ahead, solidifying the move to the downside for the March Nymex contract, which settled 7.4 cents lower day/day at $2.879. April fell 7.9 cents to $2.857.

markets

Spot gas prices also declined again in most areas, although with prices already below $3.000, losses were small other than on the East Coast. NGI’s Spot Gas National Avg. slipped 9.5 cents to $2.775.

Though production impacts from the recent...