Bolstered by continued intense cold in the latest weather model runs, natural gas futures recovered some of their recent losses in early trading Monday. After slipping 7.2 cents on Friday, the March Nymex contract was up 4.1 cents to $2.904/MMBtu at around 8:50 a.m. ET.

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Noting run-to-run volatility in the major weather models, Bespoke Weather Services said its forecast as of early Monday remained “extremely cold, as cold as you will ever see it at this time of the year.”

“So far, no turn back to even normal yet at the ends of the model runs, though the intensity of cold does wane,” Bespoke said. “We also have shifted the timing of the strongest cold, as this week shifted notably warmer…which moves next week significantly colder. All in all, we wind up with a very small...