U.S. natural gas futures rose in early trading, supported by cooler overnight weather forecasts and solid liquefied natural gas export demand. Eli Rubin of EBW Analytics noted that further near-term upside is possible as the December contract establishes a new trading range. However, the medium-term outlook remains weak, with storage levels likely to surpass 3.9 trillion cubic feet and production expected to rise to meet colder weather.
Nymex natural gas gained 1.7% to $2.995 per million British thermal units. Analysts suggest the market is balancing short-term weather-driven gains against longer-term supply fundamentals. The rally reflects continued volatility in the energy sector as winter demand approaches.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing