With traders left to weigh a weakening weather outlook against broader energy market uncertainty over the Ukraine conflict, natural gas futures traded both sides of even early Monday. The April Nymex contract was off 6.0 cents to $4.956/MMBtu at around 8:50 a.m. ET but had probed as high as $5.184 in after hours trading.

NGI Morning Natural Gas Price & Markets Coverage

West Texas Intermediate (WTI) crude oil futures continued to soar higher in early trading Monday after reports over the weekend that the United States and its allies were considering a ban on imports of Russian oil in response to the invasion of Ukraine. The April contract was up $2.79 to $118.47/bbl as of around 8:50 a.m. ET.

Both a “bullish technical outlook and tight correlation with oil prices” favored gains for Nymex natural gas futures early Monday,...