Storage Concerns Easing as Natural Gas Futures Continue Slide Early

After a sharp sell-off in the previous session, natural gas futures continued lower in early trading Tuesday amid easing winter supply adequacy fears. Coming off a 29.6-cent drop in Monday’s trading, the November Nymex contract was down another 5.6 cents to $6.414/MMBtu at around 8:50 a.m. ET.

Trends in the weather data were mixed overnight, with the American model adding total degree days but the European model lowering degree day expectations, according to NatGasWeather.

The American dataset “was cooler trending by seeing stronger weather systems into the northern U.S. Oct. 14-17, while the preferred European model wasn’t as aggressive advancing cooler Canadian air into the U.S.,” the firm said. “…Overall, weather patterns are still viewed as bearish since larger...