Natural Gas Jan '22 (NGF22)
Natural Gas Futures Market News and Commentary
January Nymex natural gas (NGF22) on Wednesday closed down -0.309 (-6.77%).
Nat-gas prices on Wednesday fell sharply for the third day and posted a fresh 3-month low. Nat-gas prices remain under pressure on forecasts for above-average U.S. temperatures over the medium term, which will reduce heating demand for nat-gas. On Wednesday, the Commodity Weather Group said that above-normal temperatures are expected for most of the U.S. through Dec 5, and the Northeast will see above-normal temperatures through Dec 10.
Ramped-up U.S. nat-gas output is bearish for prices as BNEF data show U.S. lower-48 nat-gas production on Wednesday at 94.7 bcf, up +3.9% y/y.
Domestic nat-gas demand has weakened as BNEF data shows lower 48-state nat-gas demand on Wednesday was 79.3 bcf, down -16% y/y.
Foreign demand for U.S. nat-gas supplies is strong as BNEF data shows gas flows to U.S. LNG export terminals on Wednesday was at 11.5 bcf, up +6.3% y/y. Last Friday, gas flows to L... Read more
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January Nymex natural gas (NGF22 ) on Wednesday closed down -0.309 (-6.77%). Nat-gas prices on Wednesday fell sharply for the third day and posted a fresh...
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