U.S. Natural Gas Futures Gain Ahead of Long Weekend
Dow Jones09-05 03:30
1530 ET - U.S. natural gas futures rise as the weather outlook remains hot enough through Labor Day and next week, keeping up demand for cooling. The late summer heat wave is power-burn weather, Phil Flynn of the Price Futures Group says in a note. "It's not a polar vortex and it's not going to empty the sheds by itself, but when you're sitting on $2.90 gas and the country is still running air conditioners like it's July, every extra degree is a bid." Nymex natural gas settles up 2.1% at $2.9750/mmBtu for a 3% weekly gain.
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