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Barchart
Rich Asplund

Short Covering Boosts Nat-Gas Prices as European Gas Prices Surge

Gas Prices Europe Nymex United States Natural Gas BNEF

December Nymex natural gas (NGZ24) on Friday closed higher by +0.038 (+1.36%)

Dec nat-gas prices Friday recovered from early losses and settled moderately higher.  Short covering in nat-gas futures emerged Friday when European gas prices rallied sharply to an 11-1/2 month high.  Nat-gas prices Friday initially moved lower on the outlook for warmer US weather, which will reduce heating demand for nat-gas.  Forecaster Maxar Technologies said Friday that forecasts shifted warmer across the country's eastern half for the November 25-29 period.  

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