FINWIRES · TerminalLIVE
FINWIRES

Natural Gas Rises to a Near Four-Month High on as Forecasts See Hot Weather on the Way

By

Natural gas rose for a third-straight session early Friday, rising to a near four-month high as warming long-term forecasts look to boost cooling demand for the fuel.

Gas for July delivery was last seen up $0.09 to US$3.38 per million British thermal units, the highest since early Feb.6.

The rise comes as long-term forecasts from the National Weather Service expect most states to have warmer than seasonal temperatures over its six to 14 day forecast, though the Southeast states will see seasonal temperatures over the period.

In its weekly survey, the Energy Information Administration on Thursday said stocks of the fuel rose by 92-billion cubic feet, within expectations, leaving inventories at 2.48-trillion cubic feet, 6.2% above the five-year average.

Related Articles

Sectors

Sector Update: Energy Stocks Decline Premarket Friday

Energy stocks were declining premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.5% lower.The United States Oil Fund (USO) was down 2.2% and The United States Natural Gas Fund (UNG) was 2.6% higher.Front-month US West Texas Intermediate crude oil was 1.9% lower at $87.18 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil lost 1.9% to reach $91.98 per barrel, and natural gas futures were up 5% at $3.04 per 1 million British Thermal Units.Chevron's (CVX) oil production at its Tengiz field in Kazakhstan dropped significantly on Tuesday after an accident, Reuters reported, citing industry sources. Shares of Chevron were down 0.3% pre-bell.Eni (E) Industrial Evolution and Seri Industrial agreed on a joint project to build an integrated industrial supply chain in the lithium iron phosphate battery sector, the oil major said. Eni shares were 0.2% lower premarket.

$CVX$E$UNG$USO$XLE
Sectors

Sector Update: Financial Stocks Edge Higher Premarket Friday

Financial stocks were edging higher premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.1%.The Direxion Daily Financial Bull 3X Shares (FAS) was up 0.2% and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.2% lower.JPMorgan Chase (JPM) and Nomura Holdings (NMR) are among the firms picked by Waaree Energies to manage its planned share sale, which could raise up to $700 million, Bloomberg reported, citing people familiar with the matter. Nomura Holdings shares were up 1% pre-bell.Apollo Global Management (APO) has received the European Commission's approval for its funds under Apollo Capital Management to acquire Nippon Sheet Glass, according to a statement. Apollo Global Management stock was 0.2% higher premarket.Blackstone (BX) is in talks to sell its 45% stake in Leica Camera to Asian investment firm HSG, Bloomberg reported Friday, citing sources familiar with the matter. Shares of Blackstone were 0.3% higher pre-bell.

$APO$BX$FAS$FAZ$JPM$NMR$XLF
Sectors

Sector Update: Healthcare Stocks Mixed Pre-Bell Friday

Healthcare stocks were mixed pre-bell Friday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.1% and the iShares Biotechnology ETF (IBB) 0.3% higher.Tempus AI (TEM) shares were up more than 6% after the company said it has received approval from the US Food and Drug Administration for a tumor-only indication for its xT CDx next-generation sequencing platform used for comprehensive genomic profiling of solid tumors.Agios Pharmaceuticals (AGIO) stock was down more than 3% after the company said it will discontinue development of tebapivat for lower-risk myelodysplastic syndromes after a phase 2b study failed to meet the company's threshold for further advancement.Natera (NTRA) shares were up more than 1% after the company said Diakonos Oncology will use its Signatera test to assess molecular response in patients with refractory melanoma enrolled in its DOC-RM phase I/II investigational immunotherapy trial.

$AGIO$IBB$NTRA$TEM$XLV