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US Natural Gas Jumps as Cooler Forecasts Trigger Short Covering

Bloomberg Markets Monday 09 November 2026, 14:47 UTC By Julian Hast 1 min read
Key Points

US Natural Gas Jumps as Cooler Forecasts Trigger Short Covering US natural gas futures rose as much as 5.8% after forecasts shifted over the weekend to show substantially cooler weather across the Atlantic seaboard. Cooler outlooks signal higher demand for the furnace fuel as the winter heating season gets underway. Colder weather likely forced some hedge funds with short positions to automatically unwind those bearish bets to stem further losses, accelerating the price increase beyond what...

US Natural Gas Jumps as Cooler Forecasts Trigger Short Covering US natural gas futures rose as much as 5.8% after forecasts shifted over the weekend to show substantially cooler weather across the Atlantic seaboard. Cooler outlooks signal higher demand for the furnace fuel as the winter heating season gets underway. Colder weather likely forced some hedge funds with short positions to automatically unwind those bearish bets to stem further losses, accelerating the price increase beyond what the weather alone would have merited. The short-only position on US gas contracts reached a fresh record last week as traders bet that a Super El Niño weather pattern would bring the warmest US winter on record.
US (LOCATION) Atlantic (LOCATION) Super El Niño (ORG)
Originally published by Bloomberg Markets Read original →

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