1455 ET - U.S. natural gas prices rebound after four sessions of losses on prospects of higher summer demand, prompting a short-covering rally. The recent decline amid a lack of news was overdone with the shoulder season approaching an end, says long-time natural gas trader John Woods. "We haven't had our summer yet. Logic dictates that going into a summer season, you're not going to make any money getting short at $3." Prices probably still have some upside at $3.40, "but wait for the guys who are going to take profits off this," Woods says. "You see people take short-term profits just because you can, and then you can reload again." Nymex natural gas settles up 10% at $3.247/mmBtu in its biggest one-day rise since early April. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
May 20, 2025 14:55 ET (18:55 GMT)
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