U.S. natural gas futures held steady on Tuesday after recent declines driven by a milder weather outlook and soft LNG feedgas flows. The Nymex August contract traded up 0.1% at $2.861/mm Btu, pausing a slide that had pushed prices toward $2.70.

Gary Cunningham of Tradition Energy noted that the market appears to have found footing as traders await a full return to service of the Freeport LNG terminal and warmer temperatures in the south and west next week. He said the contract will need "significant help" from weather to climb back toward the $3 level, but the freefall looks to have been belayed for now.

The stabilization reflects a balance between reduced demand from mild temperatures and ongoing supply constraints at key export facilities. Analysts suggest the next directional move will depend on the pace of Freeport LNG's restart and the accuracy of forecasts calling for above-normal heat in major consuming regions.