09:21 AM EDT, 04/24/2024 (MT Newswires) -- Natural gas prices fell early on Wednesday as demand for the fuel remains low amid mild spring temperatures.

Gas for May delivery was last seen down US$0.05 to US$1.77 per million British thermal units.

The drop comes as long-term forecasts from the National Weather Service see most states east of the Rocky Mountains with warmer than seasonal temperatures over the next six to 14 days, but under the summer heat that boosts cooling demand.

High inventories of the fuel are also pressing on prices. The Energy Information Administration last week pegged supplies at 2.33-trillion cubic feet, 36.4% above the five-year average, as a mostly mild winter cut demand. The agency will release fresh storage data on Thursday morning.