Natural Gas Futures Rebound Above $3 as Supply Drops
November natural gas futures climbed Monday morning, recovering from an early drop below $3.00/MMBtu amid declining Lower 48 supply.
November natural gas futures climbed Monday morning, rebounding from an early break below the $3.00/MMBtu threshold. According to NGINaturalGas, a sharp decline in Lower 48 supply provided crucial support to the market, helping offset downward pressure from a mild weather outlook.
Market Response
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The supply contraction helped the commodity recover its footing early in the session, drawing renewed buying interest after slipping below the key psychological level.
Key Facts
- November natural gas futures rebounded above $3.00/MMBtu on Monday morning.
- The recovery was driven by a sharp decline in Lower 48 supply.
- Mild weather outlooks failed to prevent the supply-driven price support.
Source: naturalgasintel.com
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