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Natural Gas Futures Stage Late Rally Despite Further Shrinking Expected in U.S. Storage Deficits

From naturalgasintel.com

Traders struggled to put a fair price on natural gas futures Wednesday amid conflicting signals in the United States and overseas. After plunging to a $5.350/MMBtu intraday low, however, a cooler turn in the latest weather models lifted the November Nymex gas futures contract, which settled 8.5 cents higher day/day to $5.590. December climbed 9.0 cents to $5.753. {chart} Spot gas prices were a mixed bag amid some chilly weather on the West Coast and mild temperatures in most other regions. NGI’s Spot Gas National Avg. climbed 15.5 cents to $5.285. Volatility along the Nymex futures strip continued midweek, with a ... (full story)

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  • Category: Fundamental Analysis