MTECHTIPS;-U.S. natural gas futures bounce back after Monday’s losses

MTECHTIPS;-U.S. natural gas futures bounce back after Monday’s losses

MTECHTIPS-U.S. natural gas futures were higher on Tuesday, bouncing back from its biggest one-day loss in almost two months as traders monitored shifting weather forecasts to assess the outlook for spring demand and supply levels. U.S. natural gas for June delivery gained 2.7 cents, or around 0.9%, to $3.199 per million British thermal units by 8:45 AM ET (12:45 GMT). Prices of the heating fuel sank 9.8 cents on Monday, the steepest daily loss since March 15. Cool conditions are expected to linger over the northeastern U.S., although warming slightly mid-week before another weather systems with reinforcing cooling follows Friday through early next week, according to forecasters at The central and southeastern U.S. will remain warm with highs of upper 70 s to 80 s, locally 90 s. A weather system tracking across the Southwest toward Texas will bring showers, but still with mostly comfortable temperatures as highs reach the 60 s and 70 s. Over the West, warm conditions will give way to cooling this weekend as Pacific systems return. Overall, natural gas demand will remain stronger than normal, mainly driven primarily by the cooler than normal northeastern U.S. Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on spring demand. Gas use typically hits a seasonal low with spring’s mild temperatures, before warmer weather increases demand for gas-fired electricity generation to power air conditioning. Nearly 50% of all U.S. households use gas for heating.
MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips

WWW.MTECHTIPS.COM

07489294118-119