U.S. Natural Gas Gains as Front Month Shifts to November -- Market Talk

Dow Jones09-28

1515 ET - U.S. natural gas futures settle sharply higher as the market looks ahead to November--the new front month--and prospects for a pickup in seasonal demand. "We expect gradually colder systems to arrive into the northern U.S. for the 2nd half of October for steadily increasing heating degree days, but still below normal," NatGasWeather.com says in a note. What little offshore production was shut in by Hurricane Helene will be more than offset by loss of power-sector demand as millions were left without electricity, the forecaster adds. Of interest is "to see if bulls buy dips going forward after bears sold rallies for nearly 2-3 straight months." Nymex natural gas settles up 5.4% at $2.902/mmBtu for a 6.7% weekly gain. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

September 27, 2024 15:15 ET (19:15 GMT)

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What little offshore production was shut in by Hurricane Helene will be more than offset by loss of power-sector demand as millions were left without electricity, the forecaster adds. Of interest is \"to see if bulls buy dips going forward after bears sold rallies for nearly 2-3 straight months.\" Nymex natural gas settles up 5.4% at $2.902/mmBtu for a 6.7% weekly gain. 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What little offshore production was shut in by Hurricane Helene will be more than offset by loss of power-sector demand as millions were left without electricity, the forecaster adds. Of interest is \"to see if bulls buy dips going forward after bears sold rallies for nearly 2-3 straight months.\" Nymex natural gas settles up 5.4% at $2.902/mmBtu for a 6.7% weekly gain. 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