U.S. natural gas futures climbed about 2% on Tuesday on a decline in output and forecasts for cooler weather and more heating demand next week than previously expected.
Front-month gas futures for November delivery on the New York Mercantile Exchange were up 6 cents, or 2.1%, to $2.900 per million British thermal units (mmBtu) at 9:38 a.m. EDT (1338 GMT).
Financial firm LSEG said average gas output in the lower 48 U.S. states has slid to 101.9 billion cubic feet per day (bcfd) so far in October, down from 102.9 bcfd in September and a monthly record high of 103.1 bcfd in August.
On a daily basis, output fell by about 1.5 bcfd over the past five days to a preliminary 11-week low of 101.6 bcfd on Tuesday.
Diversified Energy Company plc (LON:DEC), formerly Diversified Gas & Oil plc, is a gas and oil production company operating in the Appalachian Basin in the United States.
