Natural Gas Futures Called Slightly Lower as Forecasters Monitoring Disturbance in GOM

Coming off a strong run higher over the past few sessions, natural gas futures pulled back slightly in early trading Tuesday as updated weather models showed no significant changes to the temperature outlook. The July Nymex contract was off 1.5 cents to $3.337/MMBtu at around 8:45 a.m. ET.

There were no major changes to the weather outlook overnight, according to NatGasWeather. The American and European models added a few cooling degree days for this weekend but lowered cooling demand expectations for late next week, the firm said.

“National demand will be near normal next week as the northern U.S. becomes comfortable with highs of upper 60s to 80s, while seasonally hot across the southern U.S. with highs of upper 80s to 100s, although a touch cooler in the overnight data,”...