From Natural Gas Intelligence:

Florence Still Bearing Down on East Coast as October Natural Gas Called Higher

     9:00 AM    

With forecast guidance steady overnight and the market continuing to gauge the potential impact of Hurricane Florence as it bears down on the East Coast, October natural gas futures were trading about 1.4 cents higher Wednesday morning at around $2.842/MMBtu.

Metmike: Florence should not have a great deal of influence on natural gas.

Storage is Very Low for this time of year!! This is why the temperature forecast matters....in  the Summer/cooling season and Winter/heating season.

Storage is just below the  bottom of the previous 5 year range and also almost 700 bcf below last year at this time!

Below is the temperature average for the 7 day period used for the EIA storage report that came out last Thursday at 9:30am. It was warmer than  the previous 7 day period. Since more ng was used to generate more AC cooling during this period, the injection was a bit lower than the previous week(+70 bcf)

Here are the temperatures from the 7 day period, ending last Friday that will be used for this upcoming Thursday's EIA storage report. Near record heat in some high population centers of the East(and Eastern Midwest). So its likely that the injection will be a bit less than the 5 year average, maybe less than the previous 2 weeks?

Natural gas hit some tough resistance back in August. Even the hottest of the hot forecasts couldn't push us to $3 with very low storage.

 Temperatures as we go out to late September are getting to the time of year that is not as important for cooling. The heating season will be coming up. But we are hitting a zone of strong support with that low storage also in place.

Natural gas 3 months

Naturalgas 1 year below

Naturalgas 5 years below

Naturalgas10years below

From Natural Gas Intelligence:

Volatile Day for October Natural Gas as Market Fixated on Florence, Storage Data

     5:35 PM    

October natural gas appeared ready to stage a third day of solid gains as the prompt month rose 4 cents Wednesday morning but then retreated throughout the remainder of the session as traders began to consider the potentially devastating effect Hurricane Florence could have on natural gas demand in the coming weeks. The Nymex October futures contract ultimately settled at $2.829, up just one-tenth of a cent on the day. November and December slipped less than a penny to $2.82 and $2.91.