Natural Gas Futures Rally on Power Burn, LNG Feedgas Demand

Natural gas futures staged a midday comeback on Monday, overcoming an early sell-off after strong power burn and liquefied natural gas (LNG) feedgas provided support. The October contract rose above $2.90.

Although production in the Lower 48 states remained high, late-summer heat continued to drive demand. This kept prices buoyed even as physical prices were mixed.

According to NGI models, storage will likely see a build of 31 Bcf for the week ending October 6th.