Against a backdrop of falling crude oil prices, natural gas futures eased lower early Monday, though analysts were pointing to potential volatility ahead of contract expiration. The April Nymex contract was off 10.7 cents to $5.464/MMBtu at around 8:45 a.m. ET. May was down 11.0 cents to $5.501.

NGI Morning Natural Gas Price & Markets Coverage

With West Texas Intermediate crude oil futures down $5.70 to $108.20/bbl as of around 8:45 a.m. ET, falling oil prices may have contributed to the early selling for natural gas amid a “modest capital exit from the energy sector,” according to EBW Analytics Group senior analyst Eli Rubin.

“The April contract options expiration today and final settlement tomorrow may dominate trading over the next two sessions,” Rubin said. “The contract rollover has trended towards becoming a...