Rising cooling demand expectations in recent weather model runs had natural gas futures rebounding sharply in early trading Tuesday. The July Nymex contract was up 9.2 cents to $3.162/MMBtu at around 8:50 a.m.
After settling 2.7 cents lower at $3.070 in Monday’s session, the July contract “quickly rebounded” in after hours trading following a run of the European weather model that showed a large increase in projected cooling degree days (CDD), analysts at EBW Analytics Group said.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.