US NatGas rallies above $3 on late-season heat – ING
Source Fxstreet
US natural Gas prices climbed with Henry Hub settling above $3/MMBtu, as forecasts for late-season heat boosted cooling demand. The hotter outlook is expected to slow stockpile builds that typically accelerate this time of year, ING's commodity experts Ewa Manthey and Warren Patterson note.
Henry Hub up 3.5% as cooling demand set to rise
"US natural Gas prices edged higher with Henry Hub up 3.5% on the day and settling above $3/MMBtu yesterday amid forecasts for late season heat that would lift cooling demand and trim storage injections."
"Recent weather reports suggest above-normal temperatures persisting through the next two weeks in the country. The forecasts of higher temperatures are coming at a time when demand usually drops due to mild weather and stockpiles rebuild."
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