Loading…
U.S. natural gas futures rose to a two-month high as hot weather forecasts pointed to two more weeks of high cooling demand. Unplanned work on TC Energy's Mountaineer Xpress pipeline in West Virginia also pushed output toward a record monthly drop.
Hotter weather lifts power-burn demand and the pipeline outage tightens near-term supply, supporting higher gas prices despite bloated storage. Higher gas costs raise the price of gas-fired power and nitrogen fertilizer inputs.
financialpost.comReutersJul 7, 2020After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
