MARKET EYE: US Gas Storage Grows and Grows

摘要

US natural gas futures held their own last week, supported by bullish investors surging into the oil and equities markets. But the going may get tougher this week as the gas market faces a new page in history - 3 trillion cubic feet of gas in the ground before the end of July. The Nymex August gas contract raced to an intraweek high of $3.904 per million Btu last week before closing Friday at $3.695/MMBtu, up 2.6￠ for the week. The strength came on the back of a rally in crude oil and gasoline, partly after improved US home data sparked a buying spree in the equities markets.