Monday, July 22, 2019 at 3:04PM
After closing lower every day last week natural gas prices ended the streak of down days today, with the prompt month August contract moving around 6 cents higher on the day. Hotter weather trends were the primary reason for the move higher. This was precisely the risk that we alerted clients to in our Pre-Close Update back on Friday. Indeed, after tagging our 2.25 target in Friday's session, buyers stepped back into the market after weekend weather models revealed that cooler weather would be confined to the current week, with above normal temperatures becoming more widespread again to end July and start the month of August. This gives us just a handful of days that are projected to be below normal in terms of weather demand (GWDDs). In terms of forecast changes, here is the change in GWDDs compared to the forecast back on Friday: Moves happen fast in the natural gas market. Our research and products can keep you ahead of these moves, as they did for our clients today, allowing you to profit from changing conditions in either direction. Sign up for a 10-day free trial here to take a closer look at all that we have to offer.