US natural gas futures saw a modest rise as updated weather forecasts predicted colder temperatures in the eastern US. The shift suggested higher demand for heating, as consumers prepare to use more furnace fuel. Simultaneously, increased flows of gas to liquefied natural gas (LNG) export terminals along the Gulf Coast reduced domestic supply, contributing to upward pressure on prices.
The gains were tempered by a rebound in production following last week's offshore shut-ins due to Hurricane Isaias. The temporary halt in production had initially tightened supply, but the resumption of operations helped limit further price increases.