U.S. natural gas futures up as Tropical Storm Harvey hits production

U.S. natural gas futures rose more than 1 percent after touching a nearly three-week low on Monday as concerns about a tighter market following Tropical Storm Harvey offset any effects from forecasts of lower cooling demand. Front-month gas futures for September delivery on the New York Mercantile Exchange were up 4.3 cents, or 1.5 percent, at $2.935 per million British thermal units at 11:47 a.m. EDT (1547 GMT). The contract rebounded from $2.849, its lowest since Aug. 9. About 26 percent of natural gas production in the Gulf of Mexico is offline due to Tropical Storm Harvey, the Bureau of Safety and Environmental Enforcement said in a statement on Sunday. “The offline production of gas in the Gulf of Mexico was more than anticipated and surprising,” […]

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