News / Commodities / Natural Gas Futures Surge on Anticipated Demand Increase and Supply Concerns

Natural Gas Futures Surge on Anticipated Demand Increase and Supply Concerns

Published: 13.08.2024 13:53 GMT+01

Natural gas futures are rallying as traders anticipate higher demand due to rising U.S. temperatures, with forecasts predicting stronger demand in key regions reaching 100°F. Bullish bets have surged to a six-week high as money managers unwind short positions, expecting increased cooling demand.

Supply concerns are growing with an unusual summer storage draw expected, tightening the supply-demand balance. Additionally, uncertainty looms over Russian gas supplies to Europe as the transit deal through Ukraine nears expiration.

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