U.S. natural gas futures facing Mexican buyers and sellers were a roller coaster this week as prices jumped early in the week as October rolled off the board followed by a dive on Wednesday when November took over as the front month.


“Markets are very, very nervy,” a Mexico City-based trader told NGI’s Mexico GPI. “We hope nothing extraordinary happens. Because in Mexico no one really has hedges to cover for extraordinary events.”

Analysts at EBW Analytics Group said “technicals and fundamentals indicate bearish momentum is likely to continue” for U.S. prices, which at the main benchmarks have been at or above the $5.00/MMBtu mark over the last month. A recent survey of oil and gas companies by the Federal Reserve Bank of Dallas was also bearish and the consensus...