Summer Temps Failing to Impress as Natural Gas Futures Extend Slide Early

As updated forecasts continued to advertise more moderate summer temperatures over key markets in the Lower 48’s northern half, natural gas futures retreated in early trading Wednesday. 

The September Nymex contract was down 4.9 cents to $2.511/MMBtu at around 8:45 a.m. ET.

The American and European models both showed minor cooling degree day gains overnight following cooler trends in the previous day’s data, according to NatGasWeather.

“Whether that’s enough to move the needle is doubtful since the overnight data maintained only slightly stronger than normal national demand for much of the next 10 days due to weather systems tracking across the northern U.S.,” NatGasWeather said. “However, the weather data is still quite hot for Aug. 11-17 as hot upper high...