Natural Gas Price Fundamental Weekly Forecast – Time Running Out for Demand to Alleviate Storage Concerns.
The direction of the market this week is likely to be determined by weather and LNG export demand.
Petrotahlil - Natural gas futures finished higher last week in a relatively choppy trade. The market gapped higher on Monday in reaction to the damage to platforms from Hurricane Delta. Traders initially thought there would be prolonged production shutdowns, but that wasn’t the case, and prices retreated from the gap high.
Prices edged lower most of the week as weather forecasts flipped from cold to average temperatures, but losses were primary offset by fresh demand for liquefied natural gas.
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By the end of the week, traders were monitoring the October 28 to November 1 time period for a possible increase in heat-related demand, but there was enough uncertainty being fueled by the U.S and European weather models to cap gains.
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