09:19 AM EST, 12/04/2024 (MT Newswires) -- Natural gas traded lower for a fourth-straight session early on Wednesday as warming forecasts promise to cut into heating demand for the fuel.

Gas for January delivery was last seen down US$0.04 to US$3.01 per million British thermal units, down 12% from a 13-month high of US$3.43 on Nov.26.

The drop comes as long-term forecasts from the National Weather Service see all states with seasonal or warmer temperatures over the next six to 14 days, with the big markets of the Midwest and Northeast expected to be warmer than usual over the period, as a cold snap eases.

"Frosty weather systems will impact the Midwest, Ohio Valley, and East through Friday w/rain, snow, and highs of 10s to 30s, lows of -0s to 20s, then warming into the 40s-60s this weekend. The western, central, and southern US will be mild to nice and mostly dry w/highs of 40s to 70s as high pressure rules. Overall, High demand through Fri-Sat, then Moderate," NatGasWeather noted.