Natural Gas Futures Advance in New York Before Stockpile Report
Natural gas futures rose in electronic trading on the New York Mercantile Exchange after settling yesterday near the lowest price in a month.
Natural gas for October delivery gained as much as 1.4 cents to $3.507 per million British thermal units and was at $3.50 per million Btu at 1:01 p.m. in Singapore. Trading volume was 50 percent below the 100-day average.
The contract gained 0.1 cent yesterday to settle at $3.493, near the lowest price since Aug. 23. Prices are up 4.6 percent this year and down 2.1 percent in September. The more active November contract rose 1.2 cents to $3.558.
A government report today may show U.S. inventories rose by 79 billion cubic feet last week, based on the median of 16 analyst estimates compiled by Bloomberg. Temperatures will be seasonally mild in eastern states from Oct. 5 through Oct. 9, Commodity Weather Group LLC said.
To contact the editor responsible for this story: Alexander Kwiatkowski at firstname.lastname@example.org