Natural Gas Steady as Heat Continues for Most States
Natural gas futures were steady early on Monday, even as heat continues for most U.S. states, keeping cooling demand high. Gas for August delivery was last seen little changed at $3.20 per million British thermal units. The price of the fuel is being supported by hot weather across much of the U.S. The National Weather Service's six-to 14-day forecast expects all states to see hotter than seasonal temperatures over the period, keeping cooling demand high. Supply remains high, with the Energy Information Administration last week reporting inventories stored for winter use rose by 87 billion cubic feet to 2.92 trillion cubic feet, 6.4% above the five-year average.
Natural gas futures were steady early on Monday, even as heat continues for most U.S. states, keeping cooling demand high.
Gas for August delivery was last seen little changed at $3.20 per million British thermal units.
The price of the fuel is being supported by hot weather across much of the U.S.
The National Weather Service's six-to 14-day forecast expects all states to see hotter than seasonal temperatures over the period, keeping cooling demand high.
Supply remains high, with the Energy Information Administration last week reporting inventories stored for winter use rose by 87 billion cubic feet to 2.92 trillion cubic feet, 6.4% above the five-year average.