Natural Gas Futures Called Lower as Traders Look Ahead to Front Month Expiration, EIA Data

Natural gas futures retreated somewhat early Wednesday as traders weighed the potential for the front month expiration and the impending release of new government inventory data to influence prices.

The expiring December Nymex contract was down 2.4 cents to $2.751/MMBtu at around 8:45 a.m. ET. January was down 2.0 cents to $2.880.

The latest forecast from Bespoke Weather Services early Wednesday extended colder trends from earlier in the week, maintaining a shift toward comparatively chillier temperatures well into the month of December.

“Models remain consistent with the idea of the upper level low around Alaska pulling back toward Siberia, just enough to allow troughs to slide into the eastern U.S., giving colder variability to the East and South,” Bespoke said.

This...