U.S. natural gas prices, tracked by theUnited States Natural Gas Fund LP(NYSE:UNG), are on pace to extend their winning streak to four sessions on Friday as the combination of lower-than-expected inventory builds and increased demand due to persistent heat reversed the bearish trend that dominated the market since June.
The Henry Hub front-month futures rose 1.3% to $2.15 per million British thermal units (MMBtu), setting the stage for the highest close since July 23.
Jodi Shafto, editor and senior natural gas reporter atNatGas Intel, observed that natural gas prices found room to rise during the...
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