Heat Wave Means Gas May Rise Most Since 2005: Energy Markets
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The hottest U.S. summer in three years and the start of hurricane season means analysts are forecasting the biggest gains in natural-gas futures since 2005 for the six months ending in September.
Gas may climb 27 percent from the first quarter to $4.90 per million British thermal units, according to the median of 13 analyst forecasts in a Bloomberg survey, extending a 19 percent gain in the three months through June 30. The estimates ranged from $4 to $5.50. August-delivery gas fell 11.7 cents, or 2.5 percent, to $4.565 per million Btu today on the New York Mercantile Exchange.