On MCX settled up 4.21% at 212.8 rose to a two-month high Tuesday, a move likely tied to falling output and rising power-plant outages that could lead to more demand for gas-fired power. The jump is part of a monthlong rally that already has lifted gas 28% from its low of 2017. A glut that has lingered for years and often led to historically low prices finally appears to be causing output cuts and new demand to reverse the market. 

Trading Ideas:

# Natural gas trading range for the day is 201.7-218.9.

# Natural gas gained as traders monitored shifting weather forecasts to assess the outlook for early-spring demand and supply levels.

# A colder storm will then track across the south-central and eastern U.S. later in the week, which should boost demand.

# Meanwhile, market participants looked ahead to weekly storage data due on Thursday, which is expected to show a build in a range between 7 and 17 bcf.

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