• Natural gas futures fell for a second consecutive day
  • Expectations for strong weather-driven demand dwindled
  • Cash prices dropped as mild temperatures persisted

Natural gas futures fell for a second consecutive day on Wednesday, as traders absorbed dwindling expectations for strong weather-driven demand, moderating U.S. liquefied natural gas (LNG) levels and a change in control in the nation’s capital.

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The February Nymex gas futures contract shed seven-tenths of acent day/day and settled at $2.539/MMBtu. Prices recovered late in the session after trading down several cents most of the session. A day earlier, the prompt month plunged 19.1 cents.

March eked out a gain of four-tenths of a cent and settled at $2.533 on Wednesday. However, earlier in the session, the...