US natural gas futures extended losses for a second consecutive day as revised weather forecasts pointed to milder conditions across key consumption regions. The shift toward warmer temperatures signals reduced heating demand and lower consumption at power plants, weighing on prices. Henry Hub futures dropped sharply as traders adjusted positions based on the updated outlook.

Global natural gas markets are also under pressure, with benchmark prices falling across international hubs. The combination of mild US weather and weaker global demand has created a bearish sentiment in the sector. Traders are closely monitoring weather patterns, as any significant deviation could quickly reverse the current price trajectory.

The price decline reflects broader market concerns about oversupply and slowing industrial demand. With storage levels remaining elevated and production steady, the market faces limited upside potential in the near term. Analysts note that sustained warm weather could push prices lower, testing recent support levels.