Natural gas futures continued to grind lower early Tuesday as uncooperative forecasts pointed to more struggles ahead for a market trying to manage excess supply. 

NGI Morning Natural Gas Price & Markets Coverage

After shedding 7.9 cents on Monday, the March Nymex contract was off another 0.8 cents to $1.760/MMBtu as of 8:46 a.m. ET.

Recent price action reflects a market attempting to disincentivize production amid underperforming weather-driven demand, according to analysts at Mobius Risk Group.

“So far there is little standing in the way of the downward spiral in North American natural gas markets,” the Mobius analysts said. “…With winter having been more of a spring for fall, the market is quickly pricing to send a strong signal to the producing community. In fact, it is more or less begging them to turn off the...