Natural gas futures gave up early gains on Tuesday, trading down more than 13 cents from the day’s high as doubts about Freeport LNG’s recovery lingered and markets braced for bearish monetary policy news Wednesday.

At A Glance:

  • Freeport ramps to 38% capacity
  • Production falls to 96.9 Bcf/d
  • Northeast leads cash gains

The June Nymex contract settled down 3.9 cents day/day at $1.991/MMBtu. The contract traded as high as $2.092.

Meanwhile, cash prices powered higher for a second day. NGI’s Spot Gas National Avg. gained 7.5 cents to $1.395.

Natural gas futures trading began on an optimistic note Tuesday with the Freeport liquefied natural gas terminal nominating enough feed gas to start a second train, but futures began to slide as a sense of skepticism crept into the...