Natural gas futures faltered midweek, erasing the prior two days’ gains as traders looked ahead to growing storage surpluses later this month amid ongoing warmth across most of the country. The March Nymex gas futures contract settled Wednesday at $2.396/MMBtu, down 18.0 cents on the day. April futures slid 18.7 cents to $2.477.

At A Glance:

  • Production at 96.5 Bcf/d
  • Uneven weather outlook
  • Storage situation improves

Spot gas prices, meanwhile, were mixed as rain and cooler air dropped into the central United States. NGI’s Spot Gas National Avg. edged up 9.5 cents to $2.755.

Another bout of chilly weather may be around the corner for the Midwest and East Coast, but the coming cold snap is expected to be fleeting.

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