Amid renewed economic concerns over the coronavirus, natural gas futures eased lower early Monday even as the latest forecasts leaned colder. The January Nymex contract was off 2.4 cents to $2.676/MMBtu at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Despite colder trends in forecasts over the weekend, natural gas prices appeared to be dragged lower early Monday by broader economic concerns over the Covid-19 pandemic, according to analysts at EBW Analytics Group. 

While weather data had added to demand projections in recent runs early Monday, “futures are nonetheless trading lower this morning, due to a sell-off in equities and oil triggered by new Covid-19 lockdowns in Europe and fears regarding virus mutations,” the EBW analysts said.

January crude oil futures were down $2.02 to $47.08/bbl at...