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As weekend forecast trends bolstered the cooling demand outlook for later this month, raising the prospect of narrowing inventory surpluses, natural gas futures rallied in early trading Monday. 

Notable cooler trends from one of the major weather models pressured natural gas futures lower early Friday as traders continued to mull balances following the latest storage data. The September Nymex contract was down 2.3 cents to $2.542/MMBtu at around 8:50 a.m. ET.

Following consecutive negative sessions to open the week, natural gas futures pared their losses early Thursday as traders staked out positions ahead of the latest government inventory data. 

Haynesville Shale exploration and production (E&P) companies are biding their time and keeping an eye on forward natural gas prices in anticipation of more LNG takeaway by 2025, DT Midstream Inc. (DTM) CEO David Slater said Tuesday.

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. 

Natural gas futures pulled back further on Tuesday as the latest weather models cooled a bit. With lofty production and an unwavering storage surplus also weighing on prices, the September Nymex gas futures contract settled 7.4 cents lower day/day at $2.560/MMBtu.

Appalachian Basin pure-play CNX Resources Corp. is bullish on the long-term prospects for natural gas prices and demand despite the current market slump, management said Thursday.

Natural gas futures were trading close to even early Monday as the market weighed a supportive mid-August temperature outlook against ongoing indications of oversupplied conditions.

Natural gas futures trimmed their recent losses early Friday as traders continued to mull balances following a lighter-than-average injection in the most recent government inventory data.

Natural gas futures on Tuesday rebounded from losses a day earlier as exceptional near-term heat powered demand and overshadowed lingering concerns about elevated production and supplies.