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Natural gas prices gain on bullish demand outlook

Natural gas prices rose Monday after the International Energy Association issued a bullish outlook and forecasts for warmer weather raised bets about rising energy demand. The International Energy Association released a report suggesting natural gas demand worldwide could rise more than 50% by 2035, amounting to more than a quarter of global energy demand. The report said ample supplies, strong demand from emerging markets and uncertainty about the future of nuclear energy could result in a "golden age" for natural gas. gas prices were supported by a forecast from MDA Earth Stat that predicted significantly hotter weather in several major U.S. cities, including Boston, New York and Chicago. That raised speculation about increased demand for natural gas to generate electricity for air conditioners.

06/07/2011 1:08PM
Natural gas prices gain on bullish demand outlook
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