Milder trends overnight in the forecast data piled on the pressure for natural gas futures in early trading Wednesday as hopes for substantive weather-driven demand this winter rapidly fade. After settling 19.1 cents lower in the previous session, the February Nymex contract was down 7.1 cents to $2.475/MMBtu at around 8:40 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

The overnight European model trended milder, putting it about 10-12 heating degree days warmer compared to previous runs over the past 24 hours, NatGasWeather said early Wednesday.

The American model added demand overnight, “but the European had been colder, and the natural gas markets were likely hoping the frostier scenario would come through,” the firm said. “Not to be the case, as the weather data disappoints yet again, as it’s done in...