NYMEX July natural gas futures extended Monday’s fall in early Tuesday trading, easing back towards the $2.90/MMBtu mark, after having nudged $3/MMBtu Monday morning. The NYMEX July contract was seen trading at $2.913/MMBtu at 0700 EDT (1100 GMT), 1.7 cents lower than Monday’s settlement of $2.930/MMBtu. The contract ranged between $2.911/MMBtu and $2.927/MMBtu, easing lower as Monday’s bearish sentiment continued — the contract lost 3.2 cents during the first session of the week on a drop in demand over the weekend that trumped forecasts of warmer-than-average weather for most of the US. National Weather Service forecasts show that above-average temperatures were expected over most of the US in its 6-10 day outlook, with below-average conditions due in the northwest and the southeast. –Gary Hornby, [email protected] –Edited by Dan Lalor, [email protected] Whether you’re a risk manager, research analyst, trader or broker, Platts Gas Daily brings you crucial competitive intelligence across […]