The NYMEX November natural gas futures contract rose 3.3 cents to settle at $2.535/MMBtu, as weather forecasts called for the possibility of increased heating demand in the Northeast. “It is looking more and more like the [$2.50/MMBtu] mark is the marginal cost of production ‘average’ floor. In a bearish market like this one, that means it becomes a pivot,” ICAP Energy Vice President Drew Wozniak said in an email. The November contract has made small gains in each of the last five trading sessions. “The natural gas market is also trying to establish a bottom, with [Commodity Futures Trading Commission] data showing a managed money net short exposure [that is] the largest in more than five years, a significant oversold condition,” Citi Futures energy futures specialist Tim Evans said in an email. “Overall, we continue to have a bullish bias, with limited downside and increased upside from current levels […]