Fading heating demand and the potential for hefty storage injections in the upcoming weeks pressured natural gas futures lower in early trading Monday. The June Nymex contract was off 4.5 cents to $2.365/MMBtu at around 8:40 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Trends were mixed in the weekend weather data, with the American model adding 9 total degree days (TDD) on a combination of cooler and hotter trends but with the European model shedding 2 TDD, according to NatGasWeather.

The data continued to show a pattern that would see “national demand dropping to light to very light levels” during the second week of May, NatGasWeather said. 

During this time frame, temperatures over the northern United States were expected to warm into the “perfect” 60s to 80s, with southern regions predicted to see...