Overnight

The August natural gas futures contract was set to open Wednesday about 2.3 cents higher at around $2.755/MMBtu, building on the prior day’s modest gains as forecasters noted little change to the weather outlook overnight.

The expiring July natural gas contract was set to open Wednesday about 4.8 cents higher at around $2.987/MMBtu as overnight guidance was mixed but with one of the major weather models showing greater cooling demand over the eastern and central United States next month.

February natural gas set to open Friday about 2 cents lower at around $3.172 amid mixed changes overnight in the weather guidance and questions over how much cold could arrive next month.

January natural gas was set to open about a penny lower Tuesday at around $2.735, with the market struggling to build overnight on Monday’s 13.3-cent surge.

January natural gas was set to open about 6 cents lower at around $2.92 Tuesday as the market noted some heating demand losses in the overnight forecast.

January natural gas was set to open about 7 cents higher at around $3.09 Friday after rebounding overnight on some increases to projected heating demand over the next two weeks.

December natural gas was set to open about 2 cents lower Wednesday at around $2.996 as more warming showed up overnight in the medium-range forecast.

After pushing through resistance and trading above $3.220 in the overnight hours, December natural gas was set to open about 2 cents lower Friday amid some warmer changes to the weather models later this month.

December natural gas was set to open flat to down Wednesday as the bulls continue searching for inspiration to break the market out of its long-standing trading range and build on an early-week rally. Overnight oil markets fell.