Natural gas futures prices pressed higher today as traders eye more developing tropical activity as the hurricane season moves to its peak within the next seven days

摘要

Also adding to bullish sentiment was a climbing equities market, which was up on favorable foreign economic data, and rallying oil prices. Based on today's stronger closing, October gas appears poised to test the $4 area before potentially resuming a downward trend. “We're seeing attempted seasonal rally buying, with bullish traders buying against their own peril,” said a gas futures trader in New York. “Gas storage is likely to be very robust this week and for weeks to come now that the summer heat is going. In fact, this market might be in for a shock as to just how much gas we might be able to stuff into storage before the start of November.”