Natural gas futures declined in early trading Wednesday, giving back the gains recorded after an incident on the Nova Gas Transmission Ltd. (NGTL) in Alberta rattled markets and briefly sent prices soaring.

NGI Morning Natural Gas Price & Markets Coverage

The May Nymex contract was down 5.5 cents to $1.677/MMBtu at around 8:40 a.m. ET.

Operator TC Energy Corp. on Tuesday said it was “actively responding to an incident involving the NGTL natural gas system” about 25 miles northwest of Edson. 

The Calgary-based company later confirmed that a rupture occurred on part of the NGTL system in the area. A fire at the site of the rupture had been extinguished, and there were no injuries, according to the company.

While the affected section of pipeline was shut down, the rest of the NGTL system “is operating normally, and...