Natural gas futures fell for a fourth session Tuesday after an early move higher fizzled. Bulls were undermined by last week’s bearish storage injection still looming large, as well as another production record Monday and weather models’ fickle hot-and-cool wavering about next week’s cold.

At A Glance:

  • December contract sheds 3.6 cents
  • January contract settles below $3
  • Cash prices mixed

The December Nymex natural gas futures contract fell 3.6 cents day/day to $2.846/MMBtu. The January contract fell 5.7 cents to settle at $2.993, below the $3 level.

NGI’s Spot Gas National Avg. shed 1.5 cents to $2.785.

December futures regained the $2.900 level overnight on support from weather models turning colder. The American model more than reversed its previous warm shift,...