Natural gas futures were probing lower early Wednesday as volatile European energy markets continued to influence the domestic price outlook. The October Nymex contract was off 5.7 cents to $8.985/MMBtu as of around 8:45 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

The front month is coming off a 29.4-cent sell-off in the previous session, and prices dipped as low as $8.865 on Tuesday. 

Still, even with the recent selling, the front month has yet to break below a series of support levels pegged by ICAP Technical Analysis. 

These “layers of support…cut at $8.762-8.745, $8.216-8.141-8.061 and $7.699,” ICAP analyst Brian LaRose told clients ahead of Wednesday’s session. “As for the bulls, to keep the rally going they must better the $9.987/10.028 highs and the $10.299 level. Decisively. Still inclined to...