US Gas Posts Bullish Week

摘要

US August gas futures contract headed into its final week gaining 2.3￠, or 1.3%, on Friday to close at $1.808/MMBtu. The contract, which rolls off the board Jul. 29, gained 9￠, or 5.2%, for the week. August gas is getting a late bullish nudge to the top of the current range as cooling loads rise. “It's hot and producing a lot of power burn, but It's not scalding, sizzling, 'going to kill people' hot,” one analyst told Energy Intelligence, adding that most major markets in Texas and the Eastern US could see above-average heat in August. “It's not a bearish outlook.”