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The expiring June natural gas contract was expected to open a penny higher at $3.19 as traders saw little downside in an oversupplied market. Ritterbusch noted that prices held key support after a moderately bearish weekly storage report.
NOAA also forecast an active 2017 Atlantic hurricane season.
Natural gas feeds fertilizer and power costs for feed producers, and the market is holding near current levels with no clear new driver. Hurricane risk to Gulf output is a possible upside factor later in the season.
naturalgasintel.comBill BursonMay 26, 2017Not enough comparable past events yet for a historical read.
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.
