GAZ - U.S. nat gas price climbs to highest close since mid-February
U.S. natural gas futures settled at 11-week high, following the oil market higher, despite forecasts for milder weather and lower demand over the next two weeks than expected.Nymex front-month gas futures (NG1:COM) closed +0.5% to $2.969/MMBtu, their highest close since Feb. 19, while U.S. crude oil futures (CL1:COM) ended +1.2% to $66.08/bbl, highest since early March, on upbeat forecasts for energy demand as the economy recovers.ETFs: [[UNG]], [[UGAZF]], [[DGAZ]], [[BOIL]], [[FCG]], [[KOLD]], [[UNL]], [[GAZ]], [[GAZB]]The amount of gas flowing to U.S. LNG export plants averaged 11.3B cf/day so far in May, down from April's monthly record of 11.5B cf/day, according to data provider Refinitiv.Buyers around the world continue to purchase near-record amounts of U.S. gas because prices in Europe and Asia remain high enough to justify the cost of buying and transporting the U.S. fuel across the ocean.But traders tell Reuters that U.S. exports of liquefied natural gas cannot rise
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U.S. nat gas price climbs to highest close since mid-February