Natural gas gapped higher to kick off the Thursday session, testing the $3.30 level. The $3.30 level has been important a couple of times recently, as we have seen it offer significant resistance, especially during the summer around June, when there were concerns about air-conditioning demand.

But now we find ourselves 2 to 2.5 weeks away from rolling over into the December contract, so we start to think about heating. At night in places like Columbus, Pittsburgh, and Cleveland, it is getting to roughly 45 degrees, and that will cause a little bit of heating demand. The problem, of course, is that during the day it is still 75 degrees.