Euro Weather Model Seen Leaning Cooler as Natural Gas Futures Called Slightly Higher

Natural gas futures pared some of their losses in early trading Wednesday as traders were left to contemplate August forecasts that advertised less intense summer heat. 

After tumbling 57.7 cents in Tuesday’s session, the September Nymex contract was up 6.6 cents to $7.772/MMBtu at around 8:55 a.m. ET.

The American weather modeling added cooling degree days overnight, according to NatGasWeather.

However, the European model continued to disagree with its American counterpart on the amount of upcoming heat between days five and 15 of the outlook period, the firm said.

As of early Wednesday the European dataset favored “cooler air advancing more aggressively across the Great Lakes and East,” opening up a “rather significant difference” in demand expectations versus...