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Forumer storico
Natural gas futures rose for the first time in three days on speculation that warmer weather will boost demand for the power-plant fuel.
Above-normal temperatures are likely in the western half of the U.S. and the Northeast through Oct. 2, according to MDA Federal Inc.’s EarthSat Energy Weather in Rockville, Maryland. The high in New York on Oct. 1 may be 73 degrees Fahrenheit (23 Celsius), four degrees above average, according to AccuWeather.com
“We’re seeing some immediately warmer temperatures in the West, cooler in the Northeast,” said Matt Smith, an analyst with Summit Energy in Louisville, Kentucky. “After today, we’ll probably start at the $4 level again and kick around there as we trend along to the end of the hurricane season.”
Natural gas for October delivery rose 2.1 cents, or 0.6 percent, to $3.821 per million British thermal units at 9:20 a.m. on the New York Mercantile Exchange. Prices have fallen 31 percent this year.
The October contract expires today. November futures rose 3.6 cents, or 0.9 percent, to $3.952.
About 23 percent of U.S. electricity is generated using natural gas, according to the Energy Department.
Above-normal temperatures are likely in the western half of the U.S. and the Northeast through Oct. 2, according to MDA Federal Inc.’s EarthSat Energy Weather in Rockville, Maryland. The high in New York on Oct. 1 may be 73 degrees Fahrenheit (23 Celsius), four degrees above average, according to AccuWeather.com
“We’re seeing some immediately warmer temperatures in the West, cooler in the Northeast,” said Matt Smith, an analyst with Summit Energy in Louisville, Kentucky. “After today, we’ll probably start at the $4 level again and kick around there as we trend along to the end of the hurricane season.”
Natural gas for October delivery rose 2.1 cents, or 0.6 percent, to $3.821 per million British thermal units at 9:20 a.m. on the New York Mercantile Exchange. Prices have fallen 31 percent this year.
The October contract expires today. November futures rose 3.6 cents, or 0.9 percent, to $3.952.
About 23 percent of U.S. electricity is generated using natural gas, according to the Energy Department.
