Natural Gas Futures Stumble Short of $3 Threshold

Natural gas futures struggled to break through the $3 threshold on Tuesday as near-record production and fading power burn weighed against a four-month high in LNG feedgas demand.

The October New York Mercantile Exchange (NYMEX) futures contract was trading at $2.872/MMBtu, down 10.3 cents from Monday's close.

The decline comes as weather forecasts point to a return of fall temperatures, which could further reduce demand for natural gas in the coming weeks.