Natural Gas Futures Pare Losses on HDD Gains, but Weather Still ‘Solidly Bearish’

Helped by a modest uptick in heating demand expectations in the latest round of weather data, natural gas futures recovered some of their recent losses in early trading Tuesday. The December Nymex contract was up 3.4 cents to $2.893/MMBtu at around 8:40 a.m. ET.

Models added some heating degree days (HDD) over the previous 24 hours on colder trending systems expected to move across the Northeast late this week and early next week, NatGasWeather said in its updated forecast early Tuesday.

However, outside of these colder trends the upcoming pattern “remains solidly bearish,”  especially for the period starting next Tuesday and extending through Nov. 24, when “warm high pressure dominates much of the U.S.,” NatGasWeather said. 

The forecast will continue to look bearish...