Commodities
Heat Wave Fuels Natural Gas Futures Rally
Natural Gas Futures Gain Momentum as Record Heat Continues
The natural gas futures market has turned positive, driven by record August heat that is expected to spill over into September. This heat wave has led to a rebound in LNG feedgas, giving bulls the momentum they need ahead of Thursday's government inventory report.
The prompt month for natural gas futures will shift from October to November on Thursday, as the market looks forward to the upcoming injection season. Meanwhile, LNG feedgas has climbed back above 18 Bcf/d, a key indicator of demand in the market.