A technical bounce fueled by lower wind generation sent natural gas futures higher to start the week. The September Nymex gas futures contract settled Monday at $3.946, up 8.5 cents from Friday’s close. October climbed 8.5 cents to $3.960.
Spot gas prices were mixed on Monday, with mostly mild weather across the country. However, big gains in California sent NGI’s Spot Gas National Avg. up 16.5 cents to $3.950.
At A Glance:
- El Paso Natural Gas Pipeline blast kills two
- Technical bounce, lower wind drive Nymex rally
- Storage deficits set to continue
Though the peak of summer may be in the rearview mirror, hot weather remains in the forecast. Bespoke Weather Services said a “solid period of above-normal heat” is expected from late this week through the start of next...