U.S. Gas Contracts Gain for Second Month

U.S. natural gas futures posted their second consecutive monthly increase, after rising about 1 percent in the last session of August, supported by above-normal temperatures boosting demand for air cooling and as gas prices in Europe remained high.

The October delivery gas contracts ended the trading session on Nymex up 8.5 cents, or 0.9 percent, to settle at $9.127 per million British thermal units.

The contract ends the month on a gain of about 9 percent after a jump of more than 51 percent in July.

Global gas prices are trading around $77 per million thermal units in Europe and $59 in Asia.

 

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