After losing ground in the previous session, natural gas futures clawed back a few cents in early trading Wednesday even as analysts continued to see downside risks for prices on weak near-term fundamentals. The April Nymex contract was up 2.5 cents to $2.533/MMBtu at around 8:50 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Forecasts early Wednesday showed a slight increase in projected weather-driven demand compared to Tuesday, according to Bespoke Weather Services. However, expected demand remained “quite low” overall.

“We suspect that price action remains choppy centered around this low $2.50s zone in prompt month, at least until” the U.S. Energy Information Administration (EIA) publishes its weekly storage report on Thursday, Bespoke said. “Given the weakness that remains in terms of the...