The NYMEX June natural gas futures contract was down 2 cents to $2.627/MMBtu at 8:51 a.m. EDT (1251 GMT) Friday on an expected cool-down and continuing high storage levels.
The contract fell as much as 5 cents overnight in moderate volume "under pressure from moderating weather forecasts and record storage levels," said TFS Energy Futures.
Weather forecasts show above-normal temperatures across the eastern US over the next five days with cooler weather expected in early June, said TFS.
Strong heat is expected to hit the Midwest over the holiday weekend, but cooler weather is expected for much of the US in the six-to-10 day range, according to the Commodity Weather Group.
The contract settled 9 cents lower on Thursday.
The contract was trading between $2.597/MMBtu and $2.654/MMBtu.
