Warmer Weather, Tropical Storm Keep Nat Gas Prices Elevated (UNG)
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Natural Gas is higher early Monday as forecasts for warmer weather in the Northeast and Midwestern U.S. continue. There's also a new strom brewing in the Western Atlantic.
Computer estimates have Tropical Storm Chantal missing key gas-producing assets in the Gulf of Mexico.
Reuters noted today that hotter-than-normal temps are expected to stick around through the end of July, prompting more consumers to crank-up the air conditioning.
Henry Hub August contracts are up $0.117 to $3.734 per mmBtu on the Comex. The United States Natural Gas (NYSE: UNG) ETF is up 3.2 percent on the session.
Computer estimates have Tropical Storm Chantal missing key gas-producing assets in the Gulf of Mexico.
Reuters noted today that hotter-than-normal temps are expected to stick around through the end of July, prompting more consumers to crank-up the air conditioning.
Henry Hub August contracts are up $0.117 to $3.734 per mmBtu on the Comex. The United States Natural Gas (NYSE: UNG) ETF is up 3.2 percent on the session.
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