MTECHTIPS;-Natural Gas Price Fundamental Daily Forecast

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MTECHTIPS;-Natural Gas Price Fundamental Daily Forecast 

MTECHTIPS-natural gas futures surged on Monday, reversing earlier weakness in reaction to strong cash prices in key demand areas and a pipeline explosion. The market started lower in reaction to cool weather forecasts and near-record production. Prices are slightly higher early Tuesday with a slight follow-through to the upside. At 1004 GMT, October Natural Gas futures are trading $2.815, up $0.020 or +0.36%. There was little change in the weather models with forecasts calling for cooler weather. The latest outlooks were only slightly changed from Friday with slightly cooler trends for late this week and the September 15-16 weekend, according to Nat Gas. Traders are watching the weather on the East Coast as Hurricane Florence continues to strengthen over the central Atlantic Ocean. It is expected to make landfall as a major hurricane over the Carolina late Thursday or early Friday, and it could be one of the strongest hurricanes ever to make landfall in the Carolina. In other news, Energy Transfer Partners LP (ETP) natural gas pipeline exploded in western Pennsylvania. According to Gens cape, Inc., based on initial observations, the explosion was not expected to significantly impact nominations on interstate pipelines

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