US Gas Bulls Hope to Rally on Heat Wave

US Gas Bulls Hope to Rally on Heat Wave

Gold Silver Reports – The heat that’s gripping parts of eastern US, prompting power plants to burn record volumes of natural gas, has traders banking on a rebound in the market. Five of the 12 analysts surveyed by Neal Bhai Reports expect gas prices will gain while four see them little changed.

US Gas Bulls Hope to Rally on Heat Wave

The rest predicted futures would continue their retreat. Above-normal temperatures this week from Manhattan to Chicago stand to rescue gas bulls from an 8% slide in prices so far this month. Gas deliveries to electricity generators have jumped to an all-time high, Point-Logic Energy data show, as people blast air conditioners to keep cool. – Neal Bhai Reports

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