Natural gas futures for the upcoming winter settled moderately lower after trading within a tight range throughout the day. Prices had moved higher yesterday in the aftermath of Hurricane Delta; it had became clear that there would be only minimal disruption to liquefied natural gas export facilities on the Gulf Coast.
Weather forecasts had also called for temperatures moving colder in the 14-day outlook yesterday, however, overnight and mid-day weather model runs erased some of the additional forecasted demand. As we head into the start of the winter season in November, these weather model runs will be closely watched by traders looking to derive implications for natural gas demand. Stay tuned for more coverage as the situation unfolds.