BUZZ-Natgas companies gain on lower output, hot summer forecasts

Reuters05-24
BUZZ-Natgas companies gain on lower output, hot summer forecasts

** Shares of U.S. natural gas companies up, tracking rise in natgas futures NGA/

** U.S. natgas futures NGc1 up 1.8% at $3.31 per million British thermal units

** For the week, the contract was down less than 1% after losing around 12% last week

** Natural gas prices climbed about 2% ahead of the long U.S. Memorial Day holiday weekend on a drop in output so far this month and forecasts for hotter-than-normal weather this summer

** Shares of natgas companies CNX Resources CNX.N up 1.5% and Williams Companies WMB.N gain 2%

** NextDecade NEXT.O rises 1.8% and Sempra SRE.N up 1%

** ETFs — United States Natural Gas Fund UNG.P and ProShares Ultra Bloomberg Natural Gas BOIL.P rise 1.7% and 3.3%, respectively

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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