Natural Gas Futures Cling to Modest Gains Ahead of Storage Report
Natural gas futures have managed to cling onto modest gains at midday Wednesday, despite giving back much of an early rally as traders position ahead of Thursday's storage report. The October New York Mercantile Exchange (NYMEX) futures are trading up 3.9 cents at $3.004/MMBtu as of 11:55 a.m. ET.
The rally, which had seen natural gas prices increase significantly earlier in the day, has slowed down as traders take a cautious approach before Thursday's storage report. The report is expected to provide insights into the country's gas storage levels and could impact futures prices.