Following cooler overnight forecast trends, and after failing to significantly gain ground in the previous session, natural gas futures retreated in early trading Tuesday. Coming off a 2.5-cent gain on Monday, the September Nymex contract was down 7.0 cents to $2.725/MMBtu as of 8:45 a.m. ET. 

NGI Morning Natural Gas Price & Markets Coverage

Both the American and European weather models shed a few cooling degree days from their projections overnight, according to NatGasWeather.

“This isn’t a surprise, since the risk was cooler trends would show up in time as impressively hot days in the 10- to 16-day period roll into forecast days three to nine,” the firm said. 

Weather systems delivering more comfortable highs in the 70s to 80s for the Great Lakes, Ohio Valley and Northeast will limit national weather-driven demand...