U.S. Natural Gas Gains with Support from Storage Data
Dow Jones
Jul 31
1513 ET - U.S. natural gas futures rise with September making its debut as the new front month. Prices received a modest lift from the EIA's storage report showing a below-estimate 28 Bcf inventory build for last week that left the surplus against the five-year average little changed at 185 Bcf. "Cooling demand is expected to trend higher across most of the U.S. in the coming weeks, likely resulting in lighter storage builds as the market moves through the historical peak of summer," Andy Huenefeld of Pinebrook Energy Advisors says in a note. Nymex natural gas for September delivery settles up1.3% at $2.758/mmBtu.
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