Milder trending forecasts, set against a backdrop of soaring supply estimates, saw natural gas futures continue to tumble lower in early trading Monday.

NGI Morning Natural Gas Price & Markets Coverage

The December drifted further below the $3.00/MMBtu level, down 6.8 cents to $2.892 at around 8:30 a.m. ET.

NatGasWeather highlighted heating degree day (HDD) losses in the latest weather model runs to explain selling pressure early Monday.

Both the American and European models trended warmer, and in the case of the European dataset this followed notable warmer trends over the weekend ahead of its overnight run, according to NatGasWeather.

The European model was “now down a hefty 18 HDD since midday Friday,” the firm said.

Given demand losses for both models compared to expectations as of late last week, “natural...