U.S. natural gas futures gave up their early gains and settled lower, as oil prices and European benchmark natural gas futures retreated from earlier highs. NatGasWeather.com noted in a report that the reversal in U.S. natural gas prices was primarily due to mild spring weather and relatively ample storage levels. "Over the past few weeks, U.S. natural gas prices have underperformed global oil and gas prices, and have stabilized below $3 due to a shift toward bearish weather patterns and oversupply conditions in the United States." Natural gas futures on the New York Mercantile Exchange settled down 0.8%, at $2.627 per million British thermal units.