Natural gas futures eased lower in early trading Monday after warmer weather trends showed up in modeling over the weekend. The February Nymex contract was down 4.3 cents to $3.687/MMBtu at around 8:55 a.m. ET.

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At A Glance:

  • Weather models point to mid-January warmup
  • EIA’s 136 Bcf storage draw fails to excite
  • ERCOT says Texas power grid ready for winter

Prior to the new year, the only sparks on Thursday were those resulting from prices slamming the pavement. The February Nymex futures contract dropped 28.9 cents to settle at $3.561/MMBtu in its debut at the front of the curve. March tumbled 26.1 cents to $3.435.

Spot gas, which traded Thursday for gas delivery Saturday through Monday, staged a major rally, though. With frigid air seen sliding deep into the United States and...