# California Heat On Tap; July Called A Nickel Higher

> July natural gas was set to open 5 cents higher at $2.22 as the first heat wave of the season arrived. Traders saw large speculative funds reconsidering their short positions, and analysts expected higher California power demand as triple-digit temperatures were forecast.

- Date: 2016-05-31 · published 2016-05-31T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/8453-california-heat-on-tap-july-called-a-nickel-higher
- Commodities: [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Heat-driven power demand and possible short covering can lift natural gas prices, which feeds into fertilizer and energy costs for feed producers. The move was described as a short-term rally rather than a durable fundamental shift.

## Read by commodity

- NATGAS: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| NATGAS | 2018-05-22 | [Overnight Forecasts Advertise More Heat Risks; June Natural Gas Called Higher](https://feedsoft.ai/events/65196-overnight-forecasts-advertise-more-heat-risks-june-natural-gas-called-higher.md) | +2.4% | +4.8% |
| NATGAS | 2016-06-01 | [Forecast Heat Not Leaving Anytime Soon; July Seen 5 Cents Higher](https://feedsoft.ai/events/7634-forecast-heat-not-leaving-anytime-soon-july-seen-5-cents-higher.md) | +8.8% | +31.8% |
| NATGAS | 2020-06-19 | [July Natural Gas Futures Climb Back Into the Green on Increased Heat Outlook](https://feedsoft.ai/events/52800-july-natural-gas-futures-climb-back-into-the-green-on-increased-heat-outlook.md) | -4.3% | +11.5% |
| NATGAS | 2020-09-14 | [Natural Gas Ends Higher on Storm Concerns -- Market Talk - WSJ](https://feedsoft.ai/events/6768-natural-gas-ends-higher-on-storm-concerns-market-talk-wsj.md) | -14.6% | +18.7% |
| NATGAS | 2022-12-09 | [Perfect Storm Fuels Massive Natural Gas Price Spikes on West Coast; Northern California Hits $55/MMBtu](https://feedsoft.ai/events/11512-perfect-storm-fuels-massive-natural-gas-price-spikes-on-west-coast-northern.md) | +28.8% | -29.3% |

## Sources

- naturalgasintel.com: https://naturalgasintel.com/news/california-heat-on-tap-july-called-a-nickel-higher/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.