CME/Nymex September gas futures lost 13.9? to close at $4.598/MMBtu

摘要

After opening at $4.736, prices inched higher as traders waited on the release of the weekly storage data. Following the report, which showed a slightly lower than consensus injection, prices briefly rose to an intraday high of $4.825. However, the buying was short-lived as prices almost immediately reversed course as traders focused on poor economic data and the reduced risk of the hurricane season. In the last hour of trading, September gas fell to an intraday low of $4.556. The 6- to 10-day outlook for the South and Midwest is supportive of spot gas market prices, and while West Coast temperatures have trended cooler, there is still concern for a possible heat event in the 11- to 15-day forecast for California.