Natural gas futures pushed higher early Tuesday as traders factored in increasing cold expectations and a sharp drop-off in the latest production readings. The November Nymex contract was up 5.0 cents to $2.976/MMBtu at around 8:33 a.m. ET.

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Daily pipeline production estimates from Wood Mackenzie were showing a sizable 3.4 Bcf/d decline day/day as of early Tuesday, with total output down to around 100.5 Bcf/d, including a roughly 900 MMcf/d upward revision to the prior day’s estimate.

“The declines are concentrated in Texas and the Northeast where there are maintenance or operational issues underway, but revisions are expected in tomorrow’s sample,” Wood Mackenzie analyst Laura Munder told clients.

Estimated Texas production was down around 1.7 Bcf/d, including a drop...