A weakening weather-driven demand outlook in the overnight guidance kept the pressure on natural gas futures in early trading Tuesday, sending the December Nymex contract tumbling 9.9 cents to $3.145/MMBtu as of around 8:40 a.m. ET.

NGI Morning Natural Gas Price & Markets Coverage

Overnight data from the American and European weather models extended warm trends from earlier in the week, with both datasets dropping close to 10 heating degree days from the outlook, according to NatGasWeather.

“Overall, the timing of major weather features to impact the U.S. through mid-November held, with a solidly bearish setup this week into next week due to warmer than normal conditions ruling much of the country,” the forecaster said. “A modest bump in national demand is still expected for the second half of next week as cold air...