Northeast

Natural gas futures are holding just above the 50-day moving average after an early test of the $3.00 area. Mild national weather, strong production and a storage cushion continue to limit buyer control despite pockets of heat and early-season chill.

Natural gas has fallen back below the psychologically important $3 area as cooler weather forecasts reduce expectations for power-sector demand. The broader uptrend remains intact for now, but traders are watching a tight support cluster and the 50-day moving average for confirmation of the next move.

September natural gas futures weakened Monday after a downside gap cut through near-term support and shifted that area into resistance. Cooler late-August forecasts, record Lower-48 output and reduced LNG export demand are leaving buyers with little immediate support.