The NYMEX May natural gas futures was down in morning trading on Thursday, as a mild weather outlook, an expectation for falling demand and continued strong production have put downward pressure on prices. As of 10:43 am EDT (1443 GMT), the May contract was trading at $2.677/MMBtu, down 4.1 cents from Wednesday’s close. So far on Thursday, the May contract has traded in a range of $2.651-$2.715/MMBtu. The colder and warmer-than-average temperatures seen across the country of late are not expected to stick around moving forward, as the most recent eight- to 14-day weather outlook from the National Weather Service calls for a likelihood of only slightly colder-than-average temperatures in the Southwest, Northwest and Rockies, while slightly warmer-than-average temperatures are expected in the Northeast, Southeast, Midwest, Midcon and Texas. Coming off the back of a mild weather outlook is an expectation of a sizable drop in demand across the […]