North American natural gas futures continued their hot streak this week, even as they cooled slightly on Wednesday and Thursday. After a six day rally, November New York Mercantile Exchange natural gas futures saw a half-cent decline on Wednesday and shed another 3.3 cents on Thursday to settle at $3.344/MMBtu.

NatGasWeather said warmer temperatures could be behind the slight weakness, with weather models “remaining rather bearish for most” of the next fifteen days.

This week overall was shadowed by a decidedly tough global backdrop. The Hamas terrorist attack on Israel last Saturday led to Chevron Corp. shuttering the Tamar offshore natural gas platform.

Analysts suggested that the Israel-Hamas war wouldn’t impact natural gas for the time being, but a broader conflict...