The NYMEX January natural gas futures contract traded lower for a fourth straight day Tuesday as increasingly bearish weather forecasts continued to weigh on the market. The contract settled at $3.263/MMBtu, down 12.9 cents. The January contract has now fallen in each of the previous four trading sessions, giving up a combined 30.4 cents, or 8.5%. The fall in the prompt-month contract comes as the latest six- to 10-day and eight- to 14-day outlooks from the US National Weather Service, issued Tuesday afternoon, continued to call for above-average temperatures across the eastern half of the country. “The natural gas market continues to collapse its premium over the $3.20/MMBtu five-year-average price for this time of year as the temperature forecast for the next two weeks trended warmer than a day ago,” Citi Futures’ Tim Evans said in an email Tuesday. “Warmer-than-normal temperatures from the Southwest and Texas to the Great […]