“It’s holding the gains from last week,” said Tom Saal, vice president of energy trading at INTL Hencorp Futures, in the report. “It could be a combination of declining production and increased demand from coal switching” among power generators. [Natural Gas ETF Rallies Nearly 20% from Low]
“Prices may have a few more days to try the upside, possibly including a reaction to Thursday’s storage report, but could fall back in a ‘sell-the-news’ cycle beyond that point,” added Tim Evans, energy analyst at Citi Futures Perspective, in the article.
U.S. Natural Gas Fund