Commodities
Weak Start for November Natural Gas Futures Amid Shoulder Season Lull
November natural gas futures had a weak start in their debut session at the front of the curve, weighed down by light shoulder season demand. However, lower production and tighter storage balances compared to historical norms provided some bullish momentum.
The contract opened trading on NYMEX at $3.062/MMBtu as of 11:50 a.m. ET, which was down 4.4 cents from the previous day's close.
Typically, shoulder season demand is lower than peak winter or summer months, but the current production and storage dynamics offer some support for prices.