Natural gas futures rallied on Friday, supported by warmer weather forecasts that should boost demand for commodities from power producers. “Demand is changeable, with weak load demand expected to persist throughout the weekend in milder conditions, but will then reverse upward next week as warmer conditions return,” said Marshall Steeves, Energy Markets Analyst at IHS Markit. July NGN21 natural gas,
rose 15 cents, or 4.7%, to nearly $ 3.30 per million British thermal units. This is the highest contract settlement since October 30 of last year. Prices rose about 6.4% for the week, according to FactSet data. U.S. oil futures, meanwhile, posted gains for the session, ending the week up about 7% after the IEA forecast a return to levels in global oil demand. before COVID by the end of next year. July brut West Texas Intermediate CLN21,
rose 62 cents, or 0.9%, to $ 70.91 a barrel, the highest level since October 2018. Prices for the week rose nearly 1.9%.
Treasury yields edged higher on Monday as investors prepared for a key Federal Reserve meeting later in the week. The...Read more