“The was a bullish number,” Kyle Cooper, analyst at IAF Advisors, said in the article. “The first one the market has seen for a while.”
However, Cooper warns that “summer is half over and the demand we are seeing now, which will be shown in next week’s data, may be the highest we see all summer.”
The National Oceanic and Atmospheric Administration forecasts above-normal temperatures west of the Rockies and in New England in August, but the outlook is unclear for most of eastern U.S. for the last month of summer, according to a separate Wall Street Journal report.
United States Natural Gas Fund
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Max Chen contributed to this article.