Natural gas futures headed lower Tuesday as morning weather models shifted warmer. Production moved considerably higher as well, sending the November Nymex gas futures contract down 2.6 cents to $2.855. December slipped 2.4 cents to $3.247.

Spot gas prices were mixed amid cooler weather in the central and eastern United States and continued heat out West. NGI’s Spot Gas National Avg. ultimately finished the day unchanged at $1.920.

After large price swings over the past week, Nymex futures steadied a bit Tuesday. Weather was a key driver in price direction, especially after some big changes in recent data.

The overnight models lost some of the projected demand for the next couple of weeks, with the Global Forecast System (GFS) giving back nearly 10 heating degree days (HDD)...