Natural gas continues to rise – June 3rd update

According to Bloomberg, this current rally is due, in part, to the predictions of meteorologists Matt Rogers at Commodity Weather Group in Bethesda, Maryland of a heat wave in Eastern U.S. this week. This might further raise the demand for electricity in the U.S.

There is also a recent report made by IEA about the Natural gas market: according to the report, the demand for natural gas may rise by over 50% by 2035 compared with the current demand levels.

The Nymex Henry Hub Future (Natural gas) short term (July delivery) continues to rise and its currently traded at 2.95% increase at $4.85  / mmbtu as of 17:05*;

The current Nymex crude oil price, short term futures (July 2011 delivery) is traded at $99.18 per barrel as of 16:14*.

The Dated Brent spot oil price declines by $1.32 per barrel and it is at $114.58 per barrel as of 16:25*.

Current gold price, short term futures (July 2011 delivery) is traded at $1,554.1 per t oz. a $11.7 increase or 0.76%, as of 16:55*.

Euros to USD is currently traded down at 1.4614 a 0.1375% decrease as of 17:03*.

The Canadian exchange rate compared with USD is traded up at 0.9785 a 0.0678% decrease as of 17:02*.

(* GMT)

 

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