Natural gas futures failed to sustain Monday’s momentum and finished lower Tuesday after weather forecasts took back some of the latest modeled demand boon for later this month. The December Nymex natural gas futures contract fell 9.1 cents day/day to settle at $3.092/MMBtu. January shed 8.4 cents to end at $3.303.

At A Glance:

  • Prompt month falls 9.0 cents
  • Texas production slows sharply
  • Freeport flows back to normal

Weather forecasts Tuesday maintained light demand through this week but walked back some of the significant cold shift in modeling seen since Friday. 

NGI’s Spot Gas National Avg. jumped 40.5 cents to $3.055, to regain the $3.000 threshold for the first time since late October. Prices rose fastest in West Texas amid a sharp drop in production, as well as in...