After hinting at some weakness earlier in the week, natural gas futures moved decidedly lower on Tuesday as traders realized they may have given Punxsutawney Phil a little too much credit. With the brutal cold circulating through the Lower 48 seen fading before month’s end and a more seasonal pattern in store thereafter, the March Nymex gas futures contract settled 4.7 cents lower at $2.835. April fell 3.9 cents to $2.823.

Evening Markets

Spot gas prices were mixed as the Arctic air bringing snow and freezing rain to the central United States was to begin penetrating farther south and east. NGI’s Spot Gas National Avg. slid 19.0 cents to $3.795.

Residents throughout the north-central United States may want to queue up the next Netflix series and light the fire. Bitter Arctic air was set to...