June Nymex natural gas (NGM24) on Tuesday closed up +0.070 (+2.78%).
June nat-gas prices Tuesday recovered from a 1-week low and closed moderately higher. Short covering in nat-gas futures emerged to push prices higher on forecasts for hot weather to expand across most of the US, boosting nat-gas demand from electricity providers to power air-conditioning. The Commodity Weather Group said Tuesday that forecasts of warmer weather expanded across much of the country, particularly to the East Coast and across much of the central part of the US from June 2-8.
