There is a move higher in energy
The Natural gas futures are up about 5.5% on the day and Crude oil futures are up 1%. Yesterday, the IMF raised growth prospects. Is that giving the energy complex some upside momentum? Perhaps. It does not hurt. Colder weather is also sopping up supply.
The rise in the oil complex seems to be helping to reverse some of the dollars rise this morning.
Looking at the Natural gas chart, the price is approaching the 61.8% of the move down from the end of December 2016 high. That comes in at $3.432. That level was also the peak from May 2017 (highest high going back to end of January 2017). That may help to stall the sharp rally today.
Big day higher in natural gas.
