Natural gas futures continued to hover above the $2/MMBtu threshold in early trading Wednesday as the market looked to cooler temperatures expected later this month to firm up support.

NGI Morning Natural Gas Price & Markets Coverage

The March Nymex contract was trading at $2.022 at around 8:36 a.m. ET, up 1.3 cents. April was up 1.1 cents to $2.018.

The front month on Tuesday settled just above the $2 mark, a “key technical and psychological level” for prices, EBW Analytics Group analyst Eli Rubin observed.

Physical prices at Henry Hub finished higher versus front month futures Tuesday but could “continue to face bearish pressure amid a national warm-up heading into the weekend,” Rubin noted.

According to NGI’s Daily GPI, Henry Hub averaged $2.090 in day-ahead trading Tuesday, off 2.5 cents.

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