Eyeing a February warm-up, traders shrugged off signs of tight balances in the interim to send prompt month natural gas futures lower early Monday. The February Nymex contract was off 4.5 cents to $3.954/MMBtu at around 8:45 a.m. ET. March, meanwhile, was trading close to even at $3.780.

NGI Morning Natural Gas Price & Markets Coverage

Trends from the major weather models were mixed over the weekend, and the end result was no major change to the outlook for natural gas demand compared to Friday’s expectations, according to Bespoke Weather Services.

“We still favor a gradual shift more into a classic La Niña state into February, but caution is advised, as there is plenty of cold that will be available up in Canada, so small changes in the upper-level pattern can mean larger changes in the overall demand pattern,” Bespoke...