Natural gas prices rise further, up 4 cents at $1.86/mmBtu after hitting a nearly two-week-high on Tuesday,
as risk appetite improves across much of the energy/commodity space due largely to a better-than-expected rebound in demand as coronavirus lockdowns are lifted.
“The gas trade has put in a good performance on the upside during the past couple of sessions as the gas curve has strengthened further,” say analysts at Ritterbusch & Associates.
“The fact that the market continues to hang out near 10-day highs suggests some upside follow through in today’s trade and
possibly tomorrow if the weekly storage data offers a smaller seasonal injection than generally expected.”