Natural gas futures dived lower for a second straight session on Tuesday amid warmer weather patterns and the potential for storage injections over the coming weeks. The April Nymex gas futures contract settled at $4.568/MMBtu, down 9.0 cents day/day. May fell 8.5 cents to $4.617.

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At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

NGI’s Spot Gas National Avg. shed 17.0 cents to $4.075 on Tuesday after dropping 56.0 cents a day earlier.

National Weather Service (NWS) data showed pleasant conditions – and modest heating needs – across much of the Plains, Midwest and East on Tuesday.

High temperatures reached the 60s in the northern Plains and the 50s from Minneapolis to Detroit to Boston on Tuesday. Even warmer air was...