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Barchart
Rich Asplund

Nat-Gas Prices Rally to New 1-month High

Nymex Texas United States BNEF EIA Electricity Natural Gas

July Nymex natural gas (NGN23) on Friday rallied sharply to a new 1-month high and closed the day up +0.121 (+4.64%).

Hot weather continues to be the main bullish factor for nat-gas prices, with the scorching weather in Texas expected to last into next 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.  Nat-gas prices on Friday shook off Thursday's bearish EIA report and the +0.5% rally in the dollar index.

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