Natural Gas Futures Surge Above $4.50 Despite Hefty Storage Injection Number

摘要

US natural gas futures saw a week of gains, driven by sultry, hot July weather that is expected not only to stick around, but to intensify over the week ahead. “Extreme heat setting up to overwhelm the Midwest and East next week is forecast to be the hottest of the summer,” meteorologist Dave Melita said. As short-term demand fundamentals strengthened, the August contract rallied for four sessions only to see a slight interruption on Thursday in the wake of an unexpectedly large storage injection, which added to a series of seasonally strong injections.