Natural Gas Futures Ease Lower as Seasonal Temperatures Expected Late Month

Natural gas futures pared their recent gains in early trading Tuesday as the latest forecasts continued to show a mild seasonal pattern arriving later this month. After climbing 6.9 cents in the previous session, the May Nymex contract was down 2.0 cents to $2.729/MMBtu at around 8:50 a.m. ET.

Overnight changes to the forecast data were mixed, including 2-3 heating degree day (HDD) increase from the American model and a decrease of 2-3 HDD from the European model, according to NatGasWeather.

Overall there were “no major changes” to the temperature outlook, with above-normal demand expected through the weekend on a series of chilly systems bringing lows in the 20s to lower 40s, the firm said.

However, the American and European models “continue to favor a more seasonal...