Natural Gas Prices Rise After Shorts Cut Bets

From tastylive.com

Natural gas prices (/NGV3) are trading higher in afternoon Wall Street trading, rising 2.5% or $0.06 per million British thermal units (mmbtu), as longs reenter the trade following a wave of selling late last week. It’s likely that broader strength in oil markets is aiding /NG’s climb. Despite today’s move, the commodity is down over 2% from the start of the month. The U.S. benchmark hasn’t exceeded $3 mmbtu since early this year when prices fell from loftier levels traded at last winter. While there has been a good amount of volatility in recent months, prices have kept under that mark, except for a brief ... (full story)