Following a colder shift in forecasts over the weekend, natural gas futures were trading modestly higher early Monday, recovering some of their losses from late last week. The April Nymex contract was up 7.2 cents to $2.410/MMBtu at around 8:40 a.m. ET.
Weather models trended colder over the weekend, with the European model continuing to advertise a notably chillier outlook compared to its American counterpart, according to NatGasWeather.
The American model underwent colder trends to bring it into better alignment with the European model in predicting “a chilly weather system racing across the northern U.S. March 27-29 for a modest bump in national demand,” NatGasWeather said.
Meanwhile, the “data has been mixed on whether a cold-enough pattern will arrive April 1-3 or...