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July natural gas was expected to open 5 cents higher at $2.34 as a shift in weather patterns brought heat to the West and changing conditions to the East. Technical analysts laid out price targets, with the bullish case near $2.47 to $2.57.
Forecast heat raises expected gas-fired power demand for cooling, which supports NATGAS futures in the near term.
naturalgasintel.comBill BursonJun 1, 2016After 221 past bullish weather events, NATGAS 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.
