Natural gas futures returned to their winning ways Wednesday, supported by strong southern cooling demand and languid production.
Coming off a 14.0-cent swoon on Tuesday – the first drop in six regular sessions – the July Nymex gas futures contract gained 10.5 cents day/day and settled at $2.597/MMBtu. August rose 10.7 cents on Wednesday and closed at $2.677.
NGI’s Spot Gas National Avg. shed 7.5 cents to $2.105 a day after jumping 20.5 cents.
Prompt month futures rallied 17% last week.
Diversified Energy Company plc (LON:DEC), formerly Diversified Gas & Oil plc, is a gas and oil production company operating in the Appalachian Basin in the United States.