Natural Gas Futures Log Biggest Rise in Two Weeks

Natural gas futures on the New York Mercantile Exchange (NYMEX) registered on Thursday its largest rise in about two weeks, maintaining an upward trend for three consecutive sessions, amid expectations for a recovery in the global energy demand.

July futures gained 8.50 cents, or 2.55%, to settle at $3.4180 per million British thermal units (MBtu).

This marked the biggest single-day gain for the most active natural gas contract since June 11, and the highest closing level since January 18, 2019.

Earlier today, data showed that U.S. natural gas storage increased by 55 billion cubic feet (bcf) last week, according to estimates by the Energy Information Administration (EIA).