Dow Jones - Natural Gas Prices Rebound From Prior Session's Fall

DJ Natural Gas Prices Rebound From Prior Session's Fall

  By Timothy Puko

  Natural gas prices are rising Tuesday, rebounding from the prior session's losses.

  Analysts and traders struggled to explain the move, but it fits a larger pattern of gas quickly bouncing back and
forth this summer. Front-month futures have traded within a 31-cent range for six weeks as traders are divided between
record demand from power plants and near-record production from the resilient oil-and-gas boom.

  Natural gas for August delivery rose 4.6 cents, or 1.6%, to $2.869 a million British thermal units on the New York
Mercantile Exchange. The move is a rebound from Monday when it settled down 1.6%, retreating from trading at the
high-end of its range.

  "The market is schizophrenic," said Scott Gettleman, an independent trader in New York. "There's no rhyme or reason
right now."

  Consumption of gas-powered electricity often rises in the summer as people turn on their air-conditioning units.
Recent forecasts predict slightly above-normal temperatures in patches across the country for the next two weeks.
Tuesday's forecasts barely changed from Monday's.

  Physical gas for next-day delivery at the Henry Hub in Louisiana last traded at $2.88/mmBtu, compared with Monday's
range of $2.82-$2.855. Cash prices at the Transco Z6 hub in New York last traded at $2.25/mmBtu, compared with Monday's
range of $2.90 to $3.00.

  --Nicole Friedman contributed to this article.

  Write to Timothy Puko at tim.puko@wsj.com

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  (END) Dow Jones Newswires

  July 21, 2015 09:32 ET (13:32 GMT)

  Copyright (c) 2015 Dow Jones & Company, Inc.

072115 13:32 -- GMT
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