GAZB - Natural gas futures surge nearly 5% to highest since October

ssuaphoto/iStock via Getty Images Natural gas futures rallied to their highest in nearly eight months, assisted by forecasts for warmer weather that should boost demand from power generators. July natural gas (NG1:COM) settled +4.7% to nearly $3.30//MMBtu, the highest front-month contract settlement since Oct. 30, 2020 and capping a 6.4% gain for the week. ETFs: [[UNG]], [[UGAZF]], [[DGAZ]], [[BOIL]], [[FCG]], [[KOLD]], [[UNL]], [[GAZ]], [[GAZB]] Gas-focused equities posted impressive gains today: [[EQT]] +2.1%, [[RRC]] +4.1%, [[SWN]] +2.3%, [[AR]] +6%, [[LNG]] +0.7%. Warmer weather is forecast to lift average gas demand from 88.3B cf/day this week to 90.1B cf/day next week and 91B cf/day in two weeks, Reuters reports, citing data provider Refinitiv. Traders also noted that supplies from Appalachia may be constrained for a while after Enbridge said its TETCO unit likely would be unable to restore full pressure to its pipeline between Pennsylvania and Mississippi until late Q3. EQT's recent

For further details see:

Natural gas futures surge nearly 5% to highest since October