After tumbling in the previous session, natural gas futures held steady in early trading Tuesday as the market continued to assess apparent weakness in both export and production volumes.

NGI Morning Natural Gas Price & Markets Coverage

The May Nymex contract was trading fractionally lower at $1.690/MMBtu at around 8:45 a.m. ET.

The latest daily production estimates from Wood Mackenzie showed domestic output falling 2.7 Bcf/d day/day, which included a 1.5 Bcf/d upward revision to Monday’s estimate, according to analyst Laura Munder.

“Day/day declines are concentrated in Texas and the Northeast with some maintenance in the regions, but revisions are expected in later cycles,” Munder said.

Wood Mackenzie estimates showed total production at 97.4 Bcf/d for Tuesday, versus a recent seven-day average of 99.3...