Natural gas futures spiked briefly above the $2.000/MMBtu level Tuesday after the Golden Pass Pipeline updated federal regulators on its progress, sending a signal that the export terminal is advancing.

At A Glance:

  • Weather outlook seen warm
  • West Texas averages flip negative
  • Appalachia leads output cuts

That initial reaction was pared back, though, and the April Nymex gas futures contract settled at $1.957, off its intraday high of $2.009 but still up 4.1 cents day/day. 

The April contract briefly spiked above the $2.000 level around 1:25 p.m. ET after Golden Pass Pipeline LLC filed a partial in-service request with FERC. The pipeline sought to bring online 600,000 Dth/d of interim service with related facilities to move gas as far south as Golden Triangle Storage in...