U.S. Gas Bulls Are Counting on This Heat Wave for a Price Rally
- Heat wave is coinciding with declining U.S. gas production
- Five of 12 analysts expect natural gas prices to gain
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The heat that’s gripping parts of the eastern U.S., prompting power plants to burn record volumes of natural gas, has traders banking on a rebound in the market.
Five of 12 analysts and traders surveyed by Bloomberg expect gas prices will gain while four see them little changed. The rest predicted futures would continue their retreat.