After advancing over the previous two sessions, natural gas futures pulled back in early trading Wednesday as mild shoulder season weather continued to dampen the outlook despite continued production restraint.

NGI Morning Natural Gas Price & Markets Coverage

The May Nymex contract, set to expire later this week, was down 5.3 cents to $1.759/MMBtu at around 8:45 a.m. ET. June was down to $2.051, off 4.3 cents.

Weather models had shed a handful of degree days from the outlook in recent runs as of early Wednesday, according to NatGasWeather.

After some chilly weather for the Great Lakes and Northeast over the next few days, the outlook remained “quite bearish” for this weekend through May 8 on widespread comfortable temperatures, NatGasWeather said.

“For the longer-range, the May 9-17 pattern favors a light to very...