A decidedly mild temperature outlook for the first half of March sent natural gas futures grinding lower in early trading Friday. The April Nymex contract was down 3.6 cents to $2.741/MMBtu at around 8:50 a.m. ET. 

NGI Morning Natural Gas Price & Markets Coverage

Now that the market has had a chance to digest the 300-plus Bcf weekly withdrawal reported in the latest round of Energy Information Administration (EIA) storage data, the near-term outlook for natural gas “has turned distinctly bearish,” according to analysts at EBW Analytics Group.

“This morning’s weather forecast continues to trend warmer, adding to the loss of natural gas demand since the week began,” the EBW analysts said in a note to clients early Friday. “Production has also returned quickly, further increasing projected late-March...