NYMEX October gas futures jump 2.4 cents despite demand drops

摘要

The NYMEX October gas futures contract settled at$2.828/MMBtu Tuesday, up 2.4 cents, despite declining demand atthe end of summer.The front-month contract traded between $2.785/MMBtu and$2.836/MMBtu.Prices showed upward movement despite weakening demand. S&PGlobal Platts Analytics estimates total demand declined by 700 MMcf onday to stand at 76 Bcf/d Tuesday. Demand is expected to climb anaverage 77.4 Bcf/d over the next seven days, with the National WeatherService calling for the likelihood of warmer-than-average temperaturesacross much of the country over the next eight to 14 days.