U.S. Natural Gas Futures Gain on Hotter Weather Outlook
Dow Jones
Aug 20
1457 ET - U.S. natural gas futures rise for a second consecutive session as late-summer weather forecasts add heat to the outlook. Strong national demand is expected the next 10 days with most of the western and southern two-thirds of the U.S. facing "hot to very hot" temperatures, including high-90s to mid-100s in Texas, NatGasWeather.com says in a note. "Cooler exceptions the next 10 days will be across portions of the Midwest and Northeast." Tomorrow's EIA storage report is expected to show the smallest weekly build of the season, trimming the inventory surplus over the five-year average. Analysts in a Wall Street Journal survey expect an injection of 18 Bcf. Nymex natural gas settles up 1.4% at $2.814/mmBtu.
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