U.S. Natural Gas Futures Gain on Persistent Hot Weather
Dow Jones08-27 03:53
1553 ET - U.S. natural gas futures settle at their highest level in a month as hot weather lingers into late August and early September, maintaining high power-sector demand. Market focus turns to Thursday's EIA weekly storage report, which coincides with the September contract expiration. Analysts in a Wall Street Journal survey see an inventory build of 21 Bcf for last week, smaller than the five-year average of 33 Bcf. That would reduce the inventory surplus to 173 Bcf from 185 Bcf the previous week. Nymex natural gas rises 2.6% to $2.842/mmBtu.
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