U.S. natural gas futures picked up ground in early trading at 0939 ET, reversing previous session losses as the expanding inventory surplus continued to weigh on the market. Ritterbusch & Associates observed that bearish inclined traders appear hesitant in pressing the market lower given proximity to long‑term support at the $2.50 area, suggesting a floor is forming.

While prices could still move toward that long‑term support, the firm warned that broad‑based hotter weather patterns in the near term could shift the outlook. However, even with such a change, the weather factor is beginning to lose effect as the cooling season winds down with the market forced to place a greater focus on the upcoming low‑demand shoulder period.

Nymex natural gas rose 1.6% to $2.683/mm Btu, reflecting the modest recovery. The modest bounce indicates that traders are balancing inventory concerns against seasonal demand expectations. For more information, contact [email protected].