Market Watch

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Traders grabbed the bull by the horns Tuesday and pushed November gas futures up 54.6¢ to close at $6.312 per million Btu. The unexpectedly robust surge comes amid slightly warmer than expected outlooks for the US Northeast, but no real change in shoulder season fundamentals. But it's also a sign that "other forces behind the market, such as the upward momentum of international prices, low storage amongst other main energy sources like coal and oil, and the speculative nature of traders have also contributed toward today’s price move higher," a Gelber & Associates analyst observed. The contract traded in a $5.79 and $6.392 range. The 12-month strip soared 29.2¢ to $5.017; the 2022 calendar strip jumped 26.3¢ to $4.663 (Futures contracts).

Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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