Natural gas futures climbed modestly in early trading Monday as recent weather model runs teased colder temperatures developing later this month, albeit with extremely mild conditions in the interim. 

NGI Morning Natural Gas Price & Markets Coverage

Paring losses from Friday’s session, the March Nymex contract was up 3.3 cents to $2.443/MMBtu at around 8:40 a.m. ET.

Models over the weekend maintained “exceptionally warm and bearish” conditions for the Lower 48 over the next roughly two weeks, with most of the eastern half of the country expected to see warmer-than-normal temperatures, according to NatGasWeather.

“There will be bouts of chilly air into the West and Northern Plains as weather systems sweep through, but not cold enough or widespread enough to counter temperatures being 10-30 degrees warmer than normal...