Natural gas futures faltered early Wednesday, reversing much of the 22-cent jump Tuesday before bouncing and settling lower to start November trade off on wobbly footing. Weather forecasts shaved some demand expectations with the winter’s first decent cold shot across the Lower 48 set to ease by the weekend.

At A Glance:

  • Analysts see heavier build
  • Cold weather set to ease into weekend
  • Production ticks lower, LNG stays strong

The December Nymex gas futures contract settled at $3.494/MMBtu, down 8.1 cents day/day. It traded to an intraday low of $3.428 early in the session. January settled 6.0 cents lower at $3.753.

NGI’s Spot Gas National Avg. fell 29.0 cents to $2.965, to extend its slide to a second day that has reversed much of Monday’s nearly 50-cent...