With the market in an apparent holding pattern as traders await more details on the extent of colder weather arriving later this month, natural gas futures eased lower early Tuesday.

NGI Morning Natural Gas Price & Markets Coverage

The March Nymex contract was off 2.5 cents to $2.057/MMBtu at around 8:35 a.m. ET. In early trading, the front month did not venture outside the previous session’s range.

Monday’s price action saw Nymex futures “tread water” as the market awaited further clarity on whether colder air in the forecast will prove “fleeting or if it will mark a shift in the prevailing weather pattern,” Mobius Risk Group analysts said.

A combination of mild weather and stronger wind generation saw power demand over the weekend come in “much weaker than what we have seen of late,” according to the...