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Could Texas Heat Spur Natural Gas Futures into Rally Mode?
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Natural Gas Inteligence News Feed
Natural gas futures pressed higher to launch Tuesday trading, supported by robust cooling demand across the West and South.
Prices then leveled off as bulging supply, LNG interruptions and cooler Northeast weather threatened to stall any rally.
Forecasts called for widespread heat this week and next — including lofty temperatures in Texas — yet major models allowed for substantial exceptions in the East that could curb overall gas consumption.
On the supply side, analysts noted healthy levels of production and solid volumes of natural gas in storage for next winter.
The US Energy Information Administration posted an injection of 41 Bcf natural gas into storage for the week ended July 10.