Boosted by a large cold shift from the European weather model overnight, natural gas futures significantly pared their recent losses in early trading Tuesday. After dropping 27.6 cents in the previous session, the December Nymex contract was up 15.7 cents to $4.946 at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

The latest model runs led Bespoke Weather Services to add gas-weighted degree days (GWDD) to its updated 15-day projections versus previous expectations.

The “main item of note” overnight was a “more drastic colder change” from the European model, “which added about a dozen GWDD compared to its outlook from yesterday afternoon,” Bespoke said. “While historically this has been the most skillful model, it seems to be struggling the most in this pattern, actually being the model that...