August Heat Helps Lift U.S. Natural Gas Futures

Dow Jones
08/13

1515 ET - U.S. natural gas futures rise ahead of weekly inventory data, supported by hotter weather forecasts for much of the next two weeks. "The warmer turn in the forecast has helped prices recover, but the upside remains measured because production continues to sit near record territory and leaves little room for demand to weaken," Gelber & Associates says in a note. The EIA is expected to report a 30 Bcf storage build for last week, according to a WSJ survey of analysts. That would trim the inventory surplus over the five-year average to 192 Bcf from 195 Bcf, while leaving stocks 31 Bcf below their year-earlier level. Nymex natural gas settles up 1.3% at $2.804/mmBtu.

 

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