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Barchart
Rich Asplund

Nat-Gas Prices Soar on Fund Buying

United States Nymex Natural Gas BNEF

May Nymex natural gas (NGK23) on Monday closed up +0.161 (+8.01%).

May nat-gas prices Monday surged.  Fund buying of nat-gas futures emerged near the key psychological support level of $2 per million British thermal units, pushing prices sharply higher.  Nat-gas prices Monday rallied despite bearish fundamentals, as the Commodity Weather Group said above-normal temperatures are expected across the Midwest and Eastern U.S. this week, curbing heating demand for nat-gas.

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