U.S. Natural Gas Rises a Second Day on Warmer-Weather Forecast
Natural gas rose for a second day in New York on speculation that above-normal temperatures in the Eastern U.S. may stoke demand for cooling.
Gas for August delivery increased as much as 0.6 percent today in electronic trading and was up less than 0.1 percent at $3.579 per million British thermal units on the New York Mercantile Exchange as of 3 p.m. Singapore time. The contract rose 0.3 percent yesterday to $3.577.
The MDA Weather Services in Gaithersburg, Maryland, forecast above-normal Northeast temperatures that will include days of moderate weather. While the forecast turned hotter for the Northeast heading into mid-July, parts of the South and Central states will see cooler weather, MDA said.
The high temperature in New York City on July 9 may be 90 degrees Fahrenheit (32 Celsius), 6 degrees above normal, before dropping to the high 70s on July 12, according to AccuWeather Inc. in State College, Pennsylvania. Dallas may see a high of 90 degrees on July 12, 6 lower than the usual reading.
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