U.S. Natural Gas Futures See Continued Weather Support
Dow Jones08-26 21:37
0937 ET - U.S. natural gas futures are higher with several more weeks of hot weather likely to drive cooling demand, along with a pickup in LNG feedgas flows. "The 1-15 day weather forecast may vie for the hottest on record," Eli Rubin of EBW Analytics says in a note. September options and contract expirations today and tomorrow will guide near-term price moves, but as October moves to the front of the curve "medium-term likelihood for a moderate rally may be accelerated due to searing heat, soft production, and returning LNG export demand," he adds. The Nymex September contract is up 2.4% at $2.837/mmBtu.
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