Natural Gas Up 30% in May: What Does the Future Look Like?
Coterra(CTRA) ZACKS·2024-06-03 22:36
The U.S. Energy Department's weekly inventory release showed that natural gas supplies increased more than expected. The bearish inventory numbers notwithstanding, futures settled with a gain week over week on signs of production pullback, resurgence of LNG exports and robust summer demand.To be precise, the fuel closed out May with a rise of some 30% — its best monthly performance since July 2022 — supported by an improved macro backdrop. Despite the spike, the space remains highly susceptible to unpredict ...