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FINWIRES

Natural Gas Trading Higher Despite Cool Long-Term Forecasts

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Natural gas futures rose early on Tuesday even as long-term forecasts cool.

Gas for July delivery was last seen up US$0.03 to US$3.18 per million British thermal units.

The rise comes even as the National Weather Service's six to 10 day forecast sees most states east of the Rocky Mountains to see cooler than seasonal temperatures over the period, cutting into cooling demand.

Supply remains robust, with the Energy Information Administration last week reporting stocks of the fuel stocks of the fuel ended the prior week at 2.58-trillion cubic feet, 5.7% above the five-year average.

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