GAZB - Natural gas closes at highest since February as weather forecast turns hotter

Hoptocopter/E+ via Getty Images Natural gas prices (NG1:COM) settled +1.9% to $3.128/MMBtu, the highest closing price in nearly four months, on forecasts for warmer weather over the next two weeks than previously expected, which should lift demand and keep storage levels at a bullish deficit compared to the five-year average. Texas and other regions that were had been expected to enjoy mild weather this week suddenly were hit by warmer patterns that will lift temperatures well into the 90s tomorrow. ETFs: [[UNG]], [[UGAZF]], [[DGAZ]], [[BOIL]], [[FCG]], [[KOLD]], [[UNL]], [[GAZ]], [[GAZB]] Gas-focused stocks finished higher: [[EQT]] +3%, [[RRC]] +4.3%, [[COG]] +0.9%, [[NOG]] +2.9%, [[SWN]] +1.3%, [[AR]] +1%, [[LNG]] +0.7%. Traders also say the rising prices coincide with record pipeline exports to Mexico despite lower liquefied natural gas exports due to short-term maintenance issues. U.S. pipeline exports to Mexico averaged 6.5B cf/day so far in June, according to data provider Refinitiv, putting

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Natural gas closes at highest since February as weather forecast turns hotter