DJ Natural Gas Futures Rise on Weather Expectations
By Nicole Friedman
NEW YORK--Natural-gas prices gained Tuesday on expectations that hot weather this week would boost demand for
gas-powered electricity.
Natural-gas futures for August delivery recently rose 2.6 cents, or 0.9%, to $2.815 a million British thermal units
on the New York Mercantile Exchange.
Electricity use rises in the summer as more households and offices use air conditioning. Forecasts are calling for
above-average temperatures in the next six to 10 days in the Mid-Atlantic and Northeast, according to MDA Weather
Services, but cooler weather is expected to arrive the following week.
"Demand has strengthened vs. June and earlier this year, but this strength looks likely to be shortlived," Citigroup
Inc. said analysts in a note.
Physical gas for next-day delivery at the Henry Hub in Louisiana last traded at $2.89/mmBtu, compared with Monday's
range of $2.80-$2.895. Cash prices at the Transco Z6 hub in New York last traded at $2.985/mmBtu, compared with
Monday's range of $2.92-$2.99.
Write to Nicole Friedman at nicole.friedman@wsj.com
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(END) Dow Jones Newswires
July 28, 2015 09:57 ET (13:57 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
072815 13:57 -- GMT
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