1303 ET - The 10% U.S. tariff on imports of Canadian natural gas--about 5 Bcf a day--in itself is unlikely to cause significant price increases, especially at Henry Hub, the Nymex delivery point, Gelber & Associates says in a note. "We expect natural gas's price movement for today and the past couple of days to be based on non-fundamental dynamics in large funds covering short positions after initial movement on trade war fears." Still, many investors had priced in some skepticism about tariffs going into effect and U.S. markets "appear to be shocked by the real enactment," the firm adds. The Nymex front month is up 7.1% at $4.413/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 13:03 ET (18:03 GMT)
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