Traders shrugged off somewhat weaker heat in the latest forecasts to send natural gas futures a few cents higher early Friday. The July Nymex contract was up 2.4 cents to $3.065/MMBtu at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Updated forecasts early Friday showed an overall drop in demand expectations for the next 15 days, marking a third straight day/day decline, according to Bespoke Weather Services. The firm’s latest projections showed heat moderating for the eastern half of the nation.

“It is still strong, mind you, just a little off the level depicted in the last couple of days,” Bespoke said. “…Demand after next week tails off, as the best heat relocates to the Rockies/Plains, but this shift simply moves us closer to normal.” 

Meanwhile, the Energy Information Administration...