U.S. Natural Gas Futures Rise in Early Trading

Dow Jones10-28 21:19

0919 ET - U.S. natural gas futures are higher with the expiring November contract recovering for a second session. Mild near-term temperature forecasts have kept downward pressure on prices, while several months of below-average storage injections and strong LNG demand have provided support. "Despite some minor model disagreement, temperature forecasts continue to favor warmer-than-normal weather across key population centers well into the first half of November," Andy Huenefeld of Pinebrook Energy Advisors says in a note. "The market is maintaining the overall bearish outlook for the months ahead." Nymex natural gas is up 4% at $2.8059/mmBtu.

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