Bullish Support for Natural Gas Prices Amid Quiet Hurricane Season
Natural gas prices are receiving bullish support due to an unusually quiet Atlantic hurricane season and unseasonable heat across large portions of the Lower 48. Historically, demand for natural gas tends to fall sharply during this time of year.
The lack of hurricanes in the Atlantic is a major factor supporting prices. Typically, these storms have a significant impact on natural gas demand, particularly in regions prone to hurricane damage. However, with no notable hurricanes in sight, natural gas prices are benefiting from reduced concerns about supply disruptions.
In addition, unseasonable heat across large portions of the Lower 48 is also contributing to increased demand for natural gas. September has seen record-breaking temperatures in some areas, further supporting prices.