0939 ET - U.S. natural gas futures pick up some ground following losses the previous session on the expanding inventory surplus. "Bearish inclined traders appear hesitant in pressing the market lower given proximity to long-term support at the $2.50 area," Ritterbusch & Associates says in a note. Prices could still move toward long-term support barring some broad-based hotter weather patterns in the near term, the firm adds. "But even given 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 is up 1.6% at $2.683/mmBtu.
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