Natural gas futures pulled back in early trading Wednesday as one the major weather models eased off on cooling demand expectations somewhat and as ample storage inventories continued to weigh on prices.

NGI Morning Natural Gas Price & Markets Coverage

Coming off an 11.7-cent rally in the previous session, the August Nymex contract was down 4.3 cents to $2.586/MMBtu at around 8:40 a.m. ET. 

Overnight forecast trends were mixed, with the American model trending cooler but with the European dataset adding a few cooling degree days (CDD), according to NatGasWeather.

The American model as of early Wednesday had shed 5 CDD over the prior 24 hours, while the European model was roughly flat day/day in terms of CDD totals, the firm said.

“Essentially, the overnight data, while mixed, remains impressively hot for the seven- to...