• U.S. liquefied natural gas volumes held above 7 Bcf
  • Production was down with analysts pointing to precautionary shut-ins as Hurricane Sally approached
  • Spot gas prices moved lower along with milder temperatures

Natural gas futures posted a second consecutive day of gains Tuesday as liquefied natural gas (LNG) levels remained strong and production was curtailed as slow-moving Hurricane Sally was expected to impose torrential rains and flooding.

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The October Nymex contract settled at $2.362/MMBtu, up 5.2 cents day/day. November rose one-tenth of a cent to $2.741.

Spot gas prices, meanwhile, declined as Sally ushered in cooler winds, and fall temperatures settled across parts of the nation’s eastern half. NGI’s Spot Gas National Avg. fell 2.0 cents to $1.890.

After...