Commodities
Natural Gas Futures Climb Above $3 on Supply Concerns
Natural gas futures saw a notable rise during early afternoon trading on Tuesday, driven by concerns over supply levels despite a mixed outlook for demand due to weather conditions.
As of 12:02 p.m. ET, November New York Mercantile Exchange (NYMEX) futures were trading at $3.110 per million British thermal units (MMBtu), up 4.4 cents from previous levels.
The upward movement in prices was fueled by another production estimate that kept supply concerns in focus, overshadowing the mixed support for demand from the weather outlook.