Natural gas futures tumbled on Tuesday, breaking a two-day stretch in which Nymex prices barely budged given only minor changes in fundamentals. With a cooler turn in the latest weather data, the September Nymex futures contract settled at $2.659, off 13.6 cents from Monday’s close. October fell 11.7 cents to $2.781.

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At A Glance:

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

Spot gas prices also buckled under pressure from rain moving through key demand regions. NGI’s Spot Gas National Avg. fell 10.5 cents to $2.780.

After baking in Mother Nature’s oven for months now, forecasts for even Texas are starting to show glimpses of moderating – though certainly not cool – temperatures in the coming days. Houston forecaster Space City...