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Natural Gas Prices Rise After Shorts Cut Bets
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)
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- Posted: Sep 18, 2023 4:40pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 85
