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Rich Asplund

Cooler US Weather and Expectations of Shrinking Storage Lift Nat-Gas Prices

United States EIA Nymex The Commodity Weather Group BNEF Natural Gas

November Nymex natural gas (NGX26) on Wednesday closed up +0.089 (+2.86%).

Nat-gas prices extended this week’s rally on Wednesday, posting a 1.5-week high and settling sharply higher. Forecasts for cooler US weather that will boost heating demand for nat-gas boosted prices on Wednesday. The Commodity Weather Group said Wednesday that forecasts shifted cooler, with normal seasonal weather expected across the northern half of the US from October 11-16.

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