1520 ET – Natural gas futures rise 1% to $3.376/mmBtu, building on last week’s strong rally. The front-month contract is now up for five consecutive sessions. “This market is responding upward to a confluence of factors,” Ritterbusch says in a note. Cold weather forecasts are one of these factors, “with most of the eastern half of the US expected to experience below normal trends during the next couple of weeks,” Ritterbusch says, adding that labor issues in Australia’s LNG industry are “upping the possibility of increased US export activity in the coming months.” Low EIA storage levels also supports prices, the oil trading advisory firm says. (paulo.trevisani@wsj.com; @ptrevisani)
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