After failing to sustain earlier decreases during the prior trading session, natural gas futures resumed their slide on Tuesday as two major weather models pointed to easing heat in the coming weeks. The September Nymex gas futures contract plunged 57.7 cents to $7.706/MMBtu. October futures tumbled 56.2 cents to $7.698.

Henry Hub

At A Glance:

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

Spot gas prices tacked on more losses even as 90-degree temperatures took hold across most of the country. NGI’s Spot Gas National Avg. fell 33.0 cents to $7.810.

With stifling heat and record temperatures now stretching into a third month, price action along the futures curve has been increasingly driven by what the latest forecasts show. Until now, there’s...