Natural Gas Prices Jump 5% on Extended Heat, LNG Outlook - The Wall Street Journal
Natural Gas Prices Jump 5% on Extended Heat, LNG Outlook - WSJ
1033 ET – Natural gas prices are posting what would be their largest one-day gain in more than two weeks, up 5% at $2.706/mmBtu. “Temperatures forecasts are rising once again on the longer-range forecasts up into the northeast,” says Dennis Kissler at BOK Financial, in a note. “Some news services are also predicting Russian exported Natural Gas to Europe will drop an additional 25% this coming year. US LNG exports are also expected to grow substantially into 2024 and exported NG to Mexico set a new record.” He adds that on a technical trading basis, the front-month September contract “has moved back to a bullish structure with overhead resistance at the 2.911 area. Support will be the 2.578-2.472 area.” ( dan.molinski@wsj.com)
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