December Natural Gas Futures Creep Higher on Modest Heating Demand Improvement

• BREAKING: U.S. EIA reports injection of 31 Bcf into natural gas storage for the week ending Nov. 13
• Liquefied natural gas volumes held strong
• Production continued to climb, pressuring spot prices

December Natural gas futures edged up on Wednesday, led higher by steadily solid liquefied natural gas (LNG) volumes and weather forecasts that shifted cooler.

The December Nymex contract rose 2.0 cents day/day and settled at $2.712/MMBtu. January, however, traded sideways most of the day and closed down six-tenths of a cent at $2.838.

NGI’s Spot Gas National Avg. declined 37.5 cents to $2.170 as cold air moved out of the Upper Midwest, and rising production combined with expectations for higher temperatures weighed on prices in the Northeast.

Though temperatures are projected...