Natural gas prices settled more up than 2% Tuesday, likely from buyers jumping on prices that hit near a seven-week low. Natural gas for June delivery rose 10 cents, or 2.2%, to $4.505 a million British thermal units on the New York Mercantile Exchange. June options expire Tuesday and the contract expires Wednesday. The July contract is up 10.6 cents, or 2.4%, to $4.511/mmBtu. Futures traded down overnight and only sprung up once they bottomed out below $4.37/mmBtu, just before 9 a.m. ET. The low price may have triggered bargain shoppers to jump in, said John Woods, president of JJ Woods Associates and a Nymex floor trader. “For the big boys with deep pockets, this is where you’re buying,” he said. Gas has been trading within a 20-cent range for about two weeks. Many traders are likely waiting for Thursday’s update on gas stockpiles before […]