Atlantic Storm Boosts Natural Gas Futures

Natural gas futures climbed to mid-July price levels in New York trading on supply disruption concerns and continued hot-weather may keep demand persistent for domestic power plants.  October Natural Gas has been trading within yesterday’s abbreviated session all day so far.

A Maryland weather service has predicted above normal temperatures throughout the central part of the country through mid-September, and gas has gained nearly 2.8% since this announcement.  Natural gas trading volume has reportedly increased 10% above average for trading this time of day, and is up just over 9% for the year.
           
Mason Ching, Automated Trading Manager, Global Futures Exchange & Trading Company in Encino, CA, had this to say regarding the current natural gas futures situation, “(October Natural Gas Futures climbing to five-week high)… is based on concern that storms would disrupt supplies amid hot weather that may stoke demand for the power-plant fuel.”  Ching adds,Once cooler temperatures of autumn set in the market may have to contend to this.”

The trend for natural gas futures has just rolled over to “up” last week.  This is a domestic market I am considering adding to a financial service…

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