February natural gas prices traded higher during the initial morning hours, rebounding from a new contract low the previous session. Some traders were not that optimistic that there would be a sustained rebound in natural gas prices given the record levels of production and more than ample storage levels. The 6 to 10-day weather maps forecast a wide range of above normal temperatures throughout the upper Midwest and normal temperatures in the Northeast. While some cash traders noted a return in industrial demand after the New Years Holiday weekend, it was still not enough to support higher cash prices.
Join the Discussion