US Gas Rallies to $2.90s on Solid Demand

摘要

October US natural gas futures staged a three-day rally, capped by a 1.5% gain Friday, to close in the low $2.90s/MMBtu heading into the long holiday weekend. The prompt month found support from September weather forecasts promising solid cooling demand that will linger into the early shoulder season. However, just as the market was digesting what this could mean for already bullish storage fundamentals, the monthly production report released Friday reminded it that record gas production continues to swell.