Coming off a range-bound trading session, and with the latest weather outlook offering little to excite bulls, natural gas futures hovered close to even early Wednesday. The June Nymex contract was off 1.3 cents to $2.954/MMBtu at around 8:45 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Based on the latest forecast data Bespoke Weather Services made a “marginal increase” to its gas-weighted degree day projections for the next 15 days.

This increase is a result of higher projected heating degree days (HDD) “in the Midwest to Northeast this weekend into the start of next week,” Bespoke said. “We remain skeptical that these added HDD will actually result in a notable boost in natural gas demand, as HDD in May are most often marginal enough so that, while technically existing, do not move the demand needle...