As traders and analysts contemplated the supply/demand balance implications of unprecedented disruptions in the natural gas system over the past week, futures prices hovered close to even in early trading Friday. The March Nymex contract was up 0.6 cents to $3.088/MMBtu at around 8:45 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Milder temperatures over the weekend and moderating prices in the physical market could put pressure on futures prices near-term, analysts at EBW Analytics Group said Friday.

Even though cash prices remained elevated in Thursday’s trading, including prices that “would have set record highs” prior to the unprecedented conditions that gripped the market earlier in the week, “much milder weather is expected to arrive by Sunday,” the EBW analysts said. “This is likely to drive...