Rising cooling demand expectations in recent weather model runs had natural gas futures rebounding sharply in early trading Tuesday. The July Nymex contract was up 9.2 cents to $3.162/MMBtu at around 8:50 a.m. ET. After settling 2.7 cents lower at $3.070 in Monday’s session, the July contract “quickly rebounded” in after hours trading following a…
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Forecasts ‘Abruptly’ Shift Cooler Over Weekend as Natural Gas Futures Extend Losses
A sharp drop in cooling demand expectations from forecasts over the weekend had natural gas futures tumbling in early trading Monday. The June Nymex contract was down 6.8 cents to $2.838/MMBtu at around 8:50 a.m. ET. Weather models over the weekend “abruptly shifted much cooler” by lowering cooling demand expectations for the eastern half of…
May 24, 2021
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