Natural Gas futures rebounded today, mainly due to the increase in US nuclear plant outages. Even though this information provides support the upside should be limited because most forecasts for the coming 15 days look fairly temperate. During the last couple of trading sessions natural gas had been consolidating between the $2.80/MMBtu-$2.90/MMBtu range. Upside above $3.00/MMBtu could be limited since some utilities will switch back to coal.
Tomorrow the October-2012 contract expires, and currently the spread between the OCT12/NOV12 contract has increased in the last couple of days.
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