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Rich Asplund

Nat-Gas Prices Continue Higher on Hot US Weather Forecasts

United States Electricity BNEF EIA Natural Gas

August Nymex natural gas (NGQ25) on Wednesday closed up +0.028 (+0.79%), the third consecutive daily rise.

Aug nat-gas prices on Wednesday extended the week-long rally and posted a new 2-week high. The main bullish factor was warmer US weather forecasts, which would boost nat-gas demand from electricity providers to meet increased air conditioning usage. Atmospheric G2 said that forecasts shifted hotter in the eastern two-thirds of the US for July 21-25. The rest of the country also remains hot.

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