Natural gas declined on Tuesday amid speculations that higher temperatures may reduce demand of the fuel for heating.
Temperatures for New York City and Boston were expected to increase to 40 degrees Fahrenheit by Feb. 16 compared to 34 today, and 34 degrees Fahrenheit compared to 32 today respectively.
Natural gas for March delivery decreased by 4.8 cents, or 0.6 percent, to $8.483 per million British thermal units on the New York Mercantile Exchange after an earlier increase to as high as $8.62.
According to the Energy Department data, gas supplies for the week that ended Feb. 1 were 2.062 trillion cubic feet, or 3.1 percent above the five-year average.
In the week that ended Feb. 8, gas stockpiles declined by 125 cubic feet.