U.S. natural gas futures start the week with modest gains with the market focusing on summer weather. The early July heat wave failed to lift prices, although there are signs of support, Eli Rubin of EBW Analytics says in a note. The July 4 holiday diminished the impact of the high temperatures on power-sector gas consumption, although "chances for a heat ridge rebuilding into the central U.S. in late July are supportive," he says, while a retreat in daily production at the weekend "defers a key bearish threat." Nymex natural gas is up 0.8% at $3.222/mmBtu. (anthony.harrup@wsj.com)
Dow Jones Newswires
U.S. Natural Gas Futures Inch Up After July 4 Holiday — Market Talk
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U.S. natural gas futures start the week with modest gains with the market focusing on summer weather. The early July heat wave failed to lift prices, although there are signs of support, Eli Rubin of EBW Analytics says in a note. The July 4 holiday diminished the impact of the high temperatures on…