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Rich Asplund

Nat-Gas Prices Soar on Forecasts for Hotter US Temps

United States Sep Nymex BNEF Electricity Natural Gas

Sep Nymex natural gas (NGU24) on Monday closed up by +0.112 (+5.28%).

Sep nat-gas prices Monday recovered from a 1-week low and closed sharply higher.  Short covering emerged in nat-gas futures Monday, and prices soared after weather forecasts called for hotter US temperatures that would boost nat-gas demand from electricity providers to run air conditioning.  Forecaster Atmospheric G2 said Monday that forecasts shifted hotter for the eastern two-thirds of the US for August 24-18.  

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