U.S. natural gas futures pick up from losses the previous two sessions as this week sees the hottest weather so far of the summer. LNG feedgas demand is at its highest in three months, and power demand could set records for parts of the U.S. in the next two weeks, Dennis Kissler of BOK Financial says in a note. The Nymex August contract remains technically bullish with near-term resistance around $3.36 and support at the 50-day moving average of $3.183, he adds. Nymex gas is up 2.5% at $3.259/mmBtu.(anthony.harrup@wsj.com)
Dow Jones Newswires
U.S. Natural Gas Futures Pick Up Along With Heat — Market Talk
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U.S. natural gas futures pick up from losses the previous two sessions as this week sees the hottest weather so far of the summer. LNG feedgas demand is at its highest in three months, and power demand could set records for parts of the U.S. in the next two weeks, Dennis Kissler of BOK Financial sa…