Natural gas inched up Wednesday as bottom-pickers continue to push a rebound from three-year lows set last week.
Prices for the front-month November contract settled up 0.4 cent, or 0.2%, to $2.474 a million British thermal units on the New York Mercantile Exchange. Even with three winning sessions out of four, gas is up just 1.7% from the three-year low settlement it hit Oct. 1.
Many traders were buying in hope that the recent historical low will be the bottom, or at least a temporary bottom in a market that has ground almost steadily downward since late July, brokers said. Others...