US natural gas contracts rise 3% on expectations of cooler weather

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US natural gas futures rose 3 percent on Tuesday, on forecasts of a higher-than-expected increase in demand for heating fuel.

And the demand is still on Natural gas The American question is high around the world. And closed gas prices in Europe, where the volume of gas stocks is very low with the approach of the winter heating season, up about five percent.

Analysts expect US inventories to exceed 3.5 trillion cubic feet by the start of the winter heating season in November, which they said would be a comfortable level although below the five-year average of 3.7 trillion cubic feet.

 

In Europe, analysts say gas stocks are about 15 percent below their usual levels at this time of year, raising concerns that there will not be enough fuel available to heat homes and workplaces this winter if the weather is very cold.

US gas contracts rose to the nearest maturity 16.0 cents, or 3.0 percent, to settle at 5.505 . dollar per million British thermal units. On Monday’s session, the contract closed at its lowest level since September 24.

 

Source: Reuters

The article was written in Al Borsa newspaper, US natural gas contracts rise 3% due to expectations of cooler weather conditions.