The NYMEX October natural gas futures contract settled 3.2 cents higher at $2.683/MMBtu on Thursday, following a supportive storage report. “This storage report is not exactly surprising but offers hope to bullish traders,” said Aaron Calder, an analyst with Gelber & Associates. “In mid-August we learned that power generators can marshal demand when conditions get sufficiently hot. Both last week and this week were hot and we are seeing that additional marginal demand in the storage reports. However once that weather based demand fades we expect market balance to return to its previously oversupplied levels.” US natural gas in storage rose 68 Bcf to 3.261 Tcf in the week ended September 4, the US Energy Information Administration said Thursday. That was below consensus expectations of an injection between 72 Bcf and 76 Bcf. It was also lower than the 90-Bcf injection reported at this time in 2014, but higher […]