Even with a brief cold blast sneaking back into the December forecast, natural gas futures moved lower again on Tuesday. With a key spread flipping to negative, traders appeared to have closed the book on winter with weeks to go before the first verse of Auld Lang Syne is sung. 


The January Nymex contract settled at $2.399, off seventh-tenths of a cent day/day. February fell 1.1 cents to $2.422.

Spot gas prices were mixed Tuesday but most market hubs posted small changes day to day. NGI’s Spot Gas National Avg. slipped 2.0 cents to $2.385.

The price action in the cash market may be temporary as milder weather is on tap for later this week, with potential downside possibly spilling over to the Nymex futures curve. Mobius Risk Group said even with little risk of having...