Natural gas futures for August on the New York Mercantile Exchange rallied from Monday
Natural gas futures for August on the New York Mercantile Exchange rallied from Monday as traders say some value-buyers reacted to the lowest front month prices since mid-April.
"It's found some good user hedging interest anywhere from $5.80-$6.00/MMBtu,"
said Jean-Francois Brault, senior energy marketer at Calyon in New York. "It
seems like all the negative news has been priced in - to break the lows we're
going to have to see something else," he said.
Gas futures for August delivery rose by 4.8 cents to $5.905 per million British
thermal units.
Physical natural gas prices slipped: the benchmark Henry Hub traded in a range of
$5.78-$5.91/MMBtu versus $5.89-$6.03/MMBu the previous session.
