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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Rebound as US Weather Forecasts Turn Hotter

Sep Nymex natural gas (NGU24) on Tuesday closed up +0.090 (+4.42%).

Sep nat-gas prices on Tuesday recovered from a 3-month nearest futures low and closed sharply higher.   Fund short covering emerged in nat-gas futures Tuesday when the Commodity Weather Group said forecasts had shifted hotter for the middle of the US and parts of the South for Aug 4-8, which will boost nat-gas demand from electricity providers to power increased air-conditioning usage.  Nat-gas prices also garnered carryover support Tuesday from a rally in European nat-gas prices to a 4-week high.

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