Natural gas markets could be entering a seasonally bullish stretch for prices as traders begin to consider upside risks from winter demand less than two months away.
“Seasonality starts to get bullish right around now,” DeCarley Trading analyst Carley Garner told NGI. “What you usually get is a late summer/early fall rally in natural gas, and then it ends up giving a lot of that back, or even more, once we get deeper into the winter season.”
Roughly 76% of the time, the prompt-month New York Mercantile Exchange (Nymex) price series has trended higher over the September-October period. The Nymex contract rose in 26 of 34 periods since it launched in 1990, with a median increase of 14%.
