A Slow, Steady Nat Gas Grind

It was another slow, steady grind up in natural gas as the September contract settled up a bit more than a percent on the day. 

Again today we saw the entire strip get involved in the rally. 

Our Morning Text Message Alert for clients outlined that the strip appeared too strong for lower risks to be realized, and it appears that’s exactly what happened today.  

Even 2019 contracts got involved, with the H9/J9 March/April spread barely moving up on the day despite a steadier grind higher in the prompt month contract. 

Meanwhile, we held our second ever subscriber-only live chat in our private channel on Enelyst this afternoon. We covered recent price action as well as our seasonal forecast in our Seasonal Trader Report today. Highlights included a look at the role of the Southern Oscillation Index in the weather pattern through the next two weeks, what various El Nino scenarios mean for natural gas demand through the winter, and which regions of the country may be most liable for basis blowouts in significant cold. 

Through August all subscription levels receive access to this live chat, which allows us to answer questions about the multitude of research released each day. We also looked at intraday strength along the natural gas strip and looked closer along the strip itself. In our Seasonal Trader Report today we also looked at how curve structure has changed over the past few months.