DJ Natural Gas Snaps 5-Session Losing Streak
By Nicole Friedman
NEW YORK--Natural gas prices rose on Tuesday, snapping a five-session losing streak, as traders looked to upcoming
hot temperatures.
Natural gas futures for October delivery settled up 0.4 cent, or 0.2%, at $2.577 a million British thermal units on
the New York Mercantile Exchange.
Hot weather can boost demand for natural gas, as more households and offices use gas-powered electricity to run
air-conditioning units.
In the next two weeks, "the big picture warm pattern continues to dominate," according to Commodity Weather Group
LLC, especially in the Midwest and Plains regions.
"The October contract is in the black in response to newly forecasted weather-based demand," said energy-advisory
firm Gelber & Associates in a note.
Futures fell on Monday to their lowest settlement since late April on expectations that weather-driven demand would
fade as summer ended and the surplus of natural gas would grow.
"We expect the market to tread water until it finds a new source of demand" as the weather turns colder, Gelber said.
Write to Nicole Friedman at nicole.friedman@wsj.com
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(END) Dow Jones Newswires
September 22, 2015 15:15 ET (19:15 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
092215 19:15 -- GMT
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