NGSure unfortatnely is going to be rough for NG if weather continues like today. It seems like no matter what part of the year..temp are warmer than normal.
This helped in September and was bullish for NG as NG got air conditioing lift in late Sept lol which shouldnt normaly happen that late in year, like it was very material, some days 7-9 bcf of more NG power.
Today USA is 8.7 F warmer than normal on population weighted nationwide temp.
If this effect contines in Oct it gets to have a bearish effect as not cold enough for cooling demand that much and less hot.
Chicago for example is 24 degrees right now...not hot enough for that much AC demand. and chicago will dip to 17 degrees and that is not great at all if it holds for all of october.
Weather is going to be so critical.
Its the nights that are staying warmer as well.
USA may be still getting an ac lift but storage injections cant start being 15 bcf a day or Nymex will go 2.50 very quickly