BOIL - Natural Gas: Bears Will Remain In Drivers Seat Until A Bonafide Sustained Heat Risk Develops In The Weather Outlook
Investment Thesis
Bearish sentiment overall will continue to hang over the natural gas space until we begin to see more sustained heat/strong cooling demand in the weather outlook.
Natural gas prices fall Friday capping a decidedly bearish week as heat wave will be short-lived
The front-month August natural gas futures contract finished Friday down 1.50%, or 3.6 cents ($0.036), to $2.251. The September contract also settled lower 3.5 cents ($0.035) to $2.228. Figure 1 below is a chart depicting the price trend of the front-month August contract over the past 7 days.
Source: Investing.com
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