Natural gas rose in New York after falling yesterday on forecasts that showed the weather will cool following this week’s heat wave in the eastern U.S.
Futures for July delivery rose as much as 1.3 cents, or 0.5 percent, to $2.53 per million British thermal units on the New York Mercantile Exchange at 11:12 a.m. Tokyo time. The contract dropped 1.1 percent yesterday as MDA EarthSat Weather in Gaithersburg, Maryland, said above-normal temperatures in the Northeast, mid-Atlantic and Midwest over the next week will be replaced by normal or below-average temperatures for the rest of June.
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