U.S. Natural Gas Rises as August Contract Expires

Dow Jones
07/30

1513 ET - U.S. natural gas futures settle higher, snapping a four-session losing streak as the August contract expires. Some profit-taking was possible after strong recent selling, while midday weather models added some heat to the outlook, NatGasWeather.com says in a note. Countering solid power-sector demand has been buoyant production, soft LNG feedgas flows and abundant storage. Tomorrow's EIA inventory report is expected to show a 38 Bcf storage injection, according to a WSJ survey of analysts. That would increase the surplus over the five-year average to 195 Bcf from 183 Bcf the week before. Nymex gas for August goes off the board at $2.725/mmBtu, up 2.4%.

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