Continued expectations for mild temperatures later this month into early April saw natural gas futures reverse some of their gains from the previous session in early trading Tuesday. The April Nymex contract was down 2.6 cents to $2.556/MMBtu at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Overnight changes in the weather data included a loss of 13 heating degree days from the Global Forecast System, a result of weaker cold projected for the March 28-April 2 time frame, according to NatGasWeather. 

The European model remained “little changed” overnight and showed slightly stronger demand for this time period, but both models “are emphatically bearish,” the firm said. “In fact, the pattern is quite awful/warm/bearish for days 12-15” and this is “likely to carry over to days 16-20 as...