With the market still pricing in the balance impacts of a prolonged outage at the Freeport liquefied natural gas (LNG) terminal, traders shrugged off warmer forecast trends to send futures lower in early trading Wednesday. 

NGI Morning Natural Gas Price & Markets Coverage

The July Nymex contract was off 17.3 cents to $6.635/MMBtu as of around 8:55 a.m. ET.

Both the American and European weather models added to cooling degree day expectations overnight, according to NatGasWeather.

“After steady cooler trends the past several days, the overnight data trended a little hotter,” the firm said. Hotter trends were during the July 1-7 time frame, when “strong national demand returns as the hot upper ridge re-strengthens and expands north and eastward with highs of 90s gaining territory.”

Overall, the pattern as of early...