Milder trends in the forecasts overnight prompted a pullback in natural gas futures prices in early trading Tuesday. The January Nymex contract was down 5.5 cents to $2.627/MMBtu at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

After trending colder on Monday, the weather data reversed course overnight, including a loss of 9 heating degree days from the European model’s projections, according to NatGasWeather.

The European model has been running colder than its American counterpart, advertising a pattern that would be “just cold enough” for Dec. 25-27 following a stretch of milder temperatures over the weekend into next week, according to the firm.

Both models “continue to show a milder break setting up over much of the U.S. Dec. 28-29 for a swing back to lighter national demand,”...