U.S. natural gas futures climbed as Tropical Storm Isaias forms in the Gulf of Mexico and is projected to strike the U.S. Gulf coast as a hurricane later this week. Gary Cunningham of Tradition Energy warned the storm could cut gas output by nearly 10 Bcf by week's end, giving bulls confidence to push November contracts above $3 per mm Btu. Production losses may be balanced by increased cooling demand from wind and rain, and possible shut‑in LNG output.
Nymex natural gas rose 2.3% to $3.187/mm Btu.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing