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U.S. natural gas futures rose about 3% to a 21-week high on Friday, with the July contract settling at $2.918/MMBtu. Output slipped in June and power generators are expected to burn more gas during a forecast heat wave.
Lower output and expected higher power burn tighten the balance, supporting gas prices, though a storage surplus about 24% above normal limits the rally. Gas price strength tends to lift feed-cost-linked energy inputs and weighs on coal-to-gas switching economics.
gasprocessingnews.comJun 1, 2024Not 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.
