November Natural Gas Futures Find Relief Ahead of Expiration
Natural gas futures found relief Tuesday from short covering ahead of the November contract's expiration, supported by cooler weather revisions and a rebound in LNG feedgas demand.
Natural gas futures found some relief on Tuesday from short covering ahead of the November contract's expiration, according to NGINaturalGas. The market received support following a steep selloff, aided by modestly cooler weather model revisions and a rebound in liquefied natural gas (LNG) feedgas demand.
Market Support and Expiration
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The late support for the expiring November contract helped temper recent downward momentum. Analysts noted that short covering played a primary role in the session's relief rally as traders squared positions ahead of the contract rollover.
Key facts
- Natural gas futures found relief Tuesday from short covering ahead of the November contract's expiration
- Support was reinforced by modestly cooler weather model revisions
- A rebound in LNG feedgas demand also contributed to the session's stabilizing prices following a steep selloff
Source: naturalgasintel.com
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