Nymex November gas futures tumbled 24.8? to settle at $3.617/MMBtu

摘要

Prices opened higher at $3.881 and made a short-lived jaunt to an intraday high of $3.888 before the weekly storage data report pulled the rug out. The sell-off gained steam as long positions got knocked out by automatic stop-loss triggers. As a result, prices fell to an intraday low of $3.61, which is also the 52-week low for gas futures. On the weather front, warmer-than-normal weather is likely to invade the Northeast and Great Lakes region from Oct. 12-16, according to the Commodity Weather Group. Meanwhile, Tropical Storm Otto was projected to drift into the central Atlantic and no storms are positioned to negatively impact offshore oil and gas production in the Gulf of Mexico, according to the National Hurricane Center.