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NYMEX August natural gas futures contract moves up, power burn hits 2018 high
NYMEX August natural gas futures was up 0.7 cent Monday to settle at $2.759/MMBtu, as power burn demand reached a year-to-date high and Northeast production reached an all-time high. The front-month contract traded Monday between $2.735/MMBtu and $2.778/MMBtu. US power burn reached a new year-to-date high Monday of 38.7 Bcf/d. The Northeast again contributed to the climb in power burn, increasing 0.5 Bcf/d as temperatures in the region continue to warm up, according to S&P Global Platts Analytics data. Looking ahead, the most recent six- to 10-day outlook from the National Weather Service calls for ... (full story)