U.S. natural gas futures pick up from two sessions of losses as a heat wave across much of the U.S. lifts demand, coupled with rising LNG exports. The electricity generating sector "is the clear primary demand driver at 47.6 Bcf/d," while LNG feedgas flows are second at 19.7 Bcf/d, Gelber & Associates says in a note. A modest warming in the 1-15 day temperature outlook adds support, although buoyant supply "remains capable of absorbing a meaningful share of that weather-driven lift," the firm adds. Nymex natural gas settles up 3% at $3.275/mmBtu, up 14% for the quarter. (anthony.harrup@wsj.com)
Dow Jones Newswires
U.S. Natural Gas Futures Rise on Weather-Driven Demand — Market Talk
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U.S. natural gas futures pick up from two sessions of losses as a heat wave across much of the U.S. lifts demand, coupled with rising LNG exports. The electricity generating sector "is the clear primary demand driver at 47.6 Bcf/d," while LNG feedgas flows are second at 19.7 Bcf/d, Gelber & Associa…