1452 ET – Natural gas prices climb a moderate 0.6% to finish at $2.186/mmBtu, giving the market a sixth daily gain over the past seven sessions, and once again providing some hope to bullish investors that a price-floor has been reached. Prices have dropped slightly below $2 a few times over the past several weeks amid a nearly 20% storage surplus that has kept spot prices deep in bearish territory. But each time prices slipped under $2, they quickly bounced back above that level, and analysts say a move toward $3 in the coming weeks can’t be ruled out as summer heat will soon arrive, creating more demand for gas to keep homes and businesses air-conditioned. (dan.molinski@wsj.com)
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