What's Behind the 4.38% Spike in Natural Gas Futures?

Natural gas futures surged 4.38% on August 7, 2024, shaking off the recent bearish sentiment that had been weighing on prices.  This unexpected rally raises questions about the underlying dynamics of the market and what factors are driving this renewed optimism. Several elements could be contributing to this sudden rise: Bargain hunting: After a period of sustained decline due to increased production and mild weather forecasts, natural gas prices may have reached a level that some investors perceive as a bargain. This could be attracting buyers…