Natural Gas Apr '20 (NGJ20)
Natural Gas Futures Market News and Commentary
Mar Nymex natural gas (NGH20) on Friday closed down by -0.015 (-0.78%).
Nat-gas prices moved lower Friday on global nat-gas demand concerns and on forecasts for warm U.S. temperatures. Commodity Weather Group LLC on Friday said the U.S. weather outlook for early March turned "much warmer" overnight, which should reduce heating demand for nat gas. Mar nat-gas plunged to a 3-3/4 year low last week as warm U.S. winter temps have curbed heating demand for nat-gas and boosted supplies. According to Energy Weather Group, the U.S. winter through January is the second warmest winter season in 70 years, which has reduced heating demand for nat-gas and elevated nat-gas inventories.
Also, demand concerns are weighing on nat-gas prices after Spanish-utility Naturgy Energy Group on Thursday canceled a nat-gas cargo from Cheniere Energy, the biggest U.S. LNG exporter. The cancellation highlighted the global glut of natural gas supplies and implied higher U.S. gas inventories.
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