Adding to hefty losses going back to last week’s contract rollover, natural gas futures retreated in early trading Monday as weekend weather models moderated. The September Nymex contract was down 32.0 cents to $7.909/MMBtu as of around 8:45 a.m. ET.

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Over the weekend weather models trended cooler for the first half of August, though the temperature outlook continued to point to above-average demand the next two weeks, Bespoke Weather Services told clients early Monday.

“We still have some impressive, near-record hot days this week” in terms of national gas-weighted degree day totals, “and every single day of the 15-day forecast is projected to be hotter than normal,” Bespoke said. “As such, it is still a supportive weather picture overall.”

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