MTECHTIPS;-U.S. natural gas futures move away from 3-month lows


MTECHTIPS;-U.S. natural gas futures move away from 3-month lows

MTECHTIPS-U.S. natural gas futures were higher on Wednesday, moving away from three-month lows touched earlier this week as weather forecasting models turned warmer, which should boost demand in the weeks ahead. U.S. natural gas for July delivery was at $2.931 per million British thermal units by 8:55 AM ET (1255 GMT), up 2.4 cents, or around 0.8%. Prices of the fuel ended higher on Tuesday, snapping a two-session losing streak after sliding to the lowest since March 17 at $2.877 at the start of the week. Wednesday marks the official start of summer and with it brings impressive heat over the Southwest, while far from impressive conditions over the Midwest and East. Late in the week, warm to hot conditions will return over the Great Lakes and East with highs back into the 80 s to lower 90 s. Although, yet another cool shot will push into the north-central U.S. this weekend and then across the East next week. Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on summer heating demand. Gas use typically hits a seasonal low with spring’s mild temperatures, before warmer weather increases demand for gas-fired electricity generation to power air conditioning. Nearly 50% of all U.S. households use gas for heating.

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips

WWW.MTECHTIPS.COM

07489294118-119

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s