Natural gas futures gave back some of the previous session’s gains early Friday as traders attempted to price in a mixed forecast outlook ahead of another long holiday weekend break.
After rallying 12.0 cents on Thursday, the February Nymex contract was down 3.7 cents to $2.520/MMBtu at around 8:43 a.m. ET.
Maxar’s Weather Desk noted only small adjustments to its forecast day/day for the six- to 10-day period, from next Wednesday through Jan. 7.
The outlook for the period continued to show below-normal temperatures focused over the southern Lower 48, according to the forecaster.
“As in the previous outlook, a pair of storm systems track along the Southern Tier, the first being along the Gulf Coast at the start and second entering California early before reaching...