Commodities Corner: Natural gas may recover from its year-to-date loss by the end of the summer

Natural-gas prices have finally broken out of the tight trading range they’ve been stuck in for the past six months to mark a bottom for this year, setting their sights on a bounce back as prices near a three-year low look to boost demand.

Cheaper gas prices “will boost coal-to-gas switching in the power sector and tighten U.S. balances, limiting supply available” to increase storage levels, predicts Richard Redash, head of global gas planning at S&P Global Platts.

Futures NGQ19, -1.79% settled at $2.185 per million British thermal units on June 20—the lowest finish for a front-month contract since May 2016.

>>> Original Source <<<