US natural gas markets soared up $0.17 USD/MMBtu or 5% to settle at $3.48 USD/MMBtu. This is the highest front month settlement for the NYMEX since July 18th. The move appears to be largely momentum driven but was supported by colder than normal forecasts in the second week of October for Western North America. There is also sentiment from initial polls that EIA injections last week will be below the seasonal average.High production volumes remain bearish for markets and the US government shutdown paints a further bearish picture for short term industrial demand. (PB)
