US Gas Soars Into $2.30s/MMBtu as Summer Heat Builds

摘要

September natural gas futures soared 8% Friday gaining. 17.4￠ to $2.356 per million Btu Friday as triple-digit heat in California, Arizona and especially Texas, the nation's largest summer market, gives a boost to cooling demand. Friday's jump was added to Thursday's 1.4% gain after the market shrugged off a seasonably large and ostensibly bearish storage build. The prompt-month has now held on to a $2 handle for a second consecutive week adding 5.3%, or 11.8￠, for the week.