Report: U.S. natural gas futures continue slow upward trend

With cooling weather outlook in late April in the United States, natural gas futures in the United States once again rose. Eli Rubin of EBW Analytics said in a report, "Daily heating demand may bottom out tomorrow and rebound by 5 billion cubic feet per day by early May." He added that the weekly production data decline and record-breaking LNG feedgas supply have provided support for prices, while increased short positions have added upside potential. "However, the enormous inventory surplus highlights that any technical rally may only be temporary." New York Mercantile Exchange natural gas prices rose 1.5% to $2.738 per million British thermal units.