Natural gas futures mounted momentum Tuesday and posted a second-straight gain, as forecasts pointed to frigid northern weather and production estimates pulled back sharply.

LNG Prices

At A Glance:

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

The November Nymex gas futures contract settled at $2.971/MMBtu, up 4.5 cents day/day.  

NGI’s Spot Gas National Avg. jumped 17.5 cents to $2.220, boosted by demand in the wintry storm-laden Rocky Mountain region.

National Weather Service (NWS) data showed a chilly rain system – with snow in higher elevations – crossing portions of the Northwest and the Rockies Tuesday, with a second storm poised to follow Wednesday through Saturday. The follow-on system was projected to prove more powerful and...