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NYMEX April natural gas drifts with weather, down 1.2 cents at $2.683/MMBtu

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NYMEX April natural gas drifts with weather, down 1.2 cents at $2.683/MMBtu

NYMEX April natural gas futures were directionless in overnight US trading due to changing weather and demand expectations.

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At 7:05 am EST (1205 GMT) the contract was down 1.2 cents at $2.683/MMBtu, after trading a $2.673-$2.726/MMBtu range.

Lingering below-average temperature forecasts indicate there could be a demand boost.

The National Weather Service projection for the six-to-10-day period shows below-average temperatures holding over the lower tier of the Mid-Atlantic, nearly the entire Southeast, parts of the Gulf Coast, a few areas of the Midwest and Montana, as average to above-average temperatures encompass the Northeast, balance of the Mid-Atlantic, Florida, much of the Midwest, most of the Gulf Coast and almost all of the West.

Below-average temperatures expand in scope to overtake the entire Mid-Atlantic, Southeast, most of the Gulf Coast and much of the West Coast in the eight-to-14-day forecast.

--Edited by Jonathan Dart,