Natural gas futures fluctuated between small gains and minimal losses during early U.S. trading hours on Tuesday morning. Investors are watching the weather forecasts closely. Binary Tribune reported that the cooler than expected temperatures throughout the Midwest and eastern U.S. gave a level of support to natural gas prices, but the lack of freezing or near-freezing temperatures held gains to a small amount.
According to the Binary Tribune, natural gas futures for settlement in November was up 0.08 percent at $3.919 per million British thermal units by 11:34 GMT on the New York Mercantile Exchange. Prices held steady within a daily range of $3.933 and $3.902. The power-station fuel gained 1.5 percent on Monday, rising to $3.916 per mBtu after having fallen 4.5 percent last week. Investing.com reported that yesterday, natural gas futures rallied 5.7 cents, or 1.48 percent, to settle at $3.916.
While the temperatures in the eastern and Midwestern parts of the U.S. are enjoying mild temperatures, forecasts predict that pockets of cool air will eventually descend on these regions in the coming days and weeks, increasing demand for heating sources at the onset of the winter weather.
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