A continuation of recent cold trends in forecasts for late October supported natural gas futures in early Wednesday trading. The November Nymex contract was trading 1.1 cents higher at $2.350/MMBtu at around 8:40 a.m. ET.
Small but colder-leaning changes to the weather models overnight led Bespoke Weather Services early Wednesday to add to its gas-weighted degree day expectations for the 11-15 day time frame.
“We continue to see solid support for the building of a West Coast upper level ridge, sending a colder trough downstream first into the middle of the nation next week, then spreading eastward next weekend into the following week,” Bespoke said. Forecasters also reported some negative North Atlantic Oscillation (NAO) “blocking showing up on the Atlantic side, assisting in the colder move.