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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Rally on Hot Weather and Russia

United States Gas Prices Russia Nymex Texas Natural Gas BNEF Electricity

July Nymex natural gas (NGN23) on Monday closed up +0.062 (+2.27%), extending last Friday's +4.64% rally and matching May's 3-1/4 month high.

Hot weather continues to be the main bullish factor for nat-gas prices, with the scorching weather in Texas expected to continue into this week.  Utilities in Texas are straining to produce enough electricity to run air conditioning.  However, the Commodity Weather Group is looking for cooler temperatures in the Midwest and East.

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