Natural gas prices extended their recent rally this week as the market priced in the first real taste of winter weather across the Midwest and East. Forward contracts for the upcoming heating season continue to climb, reflecting a more bullish tone as colder air moves in. Storage levels remain comfortable and production steady, but early heating demand and strong LNG exports are keeping sentiment firm heading into mid-November. The next few weeks of weather will likely set the tone for how much follow-through this rally has as the market transitions fully into withdrawal season.
