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Natural Gas Futures Extend Gains Early Amid 'Impressive Heat' - Natural Gas Intelligence

Natural Gas Intelligence · last updated

Natural Gas Futures Extend Gains Early Amid ‘Impressive Heat’ - Natural Gas Intelligence

Bolstered by strong heat in the outlook for key cooling demand markets, albeit with some mixed forecast trends over the weekend, natural gas futures continued to press higher in early trading Tuesday.

The July Nymex contract was up 2.0 cents to $2.652/MMBtu at around 8:40 a.m. ET.

The American and European weather models trended cooler over the weekend, though the American dataset had subsequently shifted back in the hotter direction as of early Tuesday, NatGasWeather said.

The European model, on the other hand, extended cooler trends to open up a “bit of a difference” in projected cooling demand between the models for days five through 15 of the outlook, the firm added.

“Impressive heat is still forecast over Texas and surrounding states into the foreseeable future,...

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