With more moderate losses in Tuesday's trading, spot gas prices NGI's Spot Gas National Avg down 12.0 cents to $4.615.
There has been some inconsistency between the GFS and European models in recent runs, but both showed cold weather hitting the eastern half of the US this weekend and into early next week. Along with the temperature forecast, traders are also competing with stronger production gains. This may be the reason for the immediate weakness of the month in the end. Preliminary data showed output rose the lowest 48 near 93 billion cubic feet, and production should continue to rise now that the cold has waned, and the snow has receded.
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