Natural Gas May '20 (NGK20)
Natural Gas Futures Market News and Commentary
May Nymex natural gas (NGK20) on Monday closed up +0.110 (+6.79%).
May nat-gas prices on Monday rallied sharply on forecasts for colder U.S. temps and on the sharp rally in stocks on hopes that the pandemic may be nearing a peak. The Commodity Weather Group on Monday forecast that temperatures will be below-normal across the eastern two-thirds of the lower-48 U.S. states during April 11-15 with the coldest air concentrated in the Midwest.
News that China is buying U.S. nat-gas was supportive for nat-gas prices after Bloomberg reported on Monday that there are three LNG tankers carrying cargoes from the U.S. to China. That signaled that Chinese companies may be willing to resume imports of U.S. LNG, the first imports of U.S. LNG since April 2019, in accordance with the phase-one trade agreeemnt where China agreed to step up its purchases of U.S. oil and nat-gas.
Nat-gas prices had carry-over support from last Friday's weekly Baker Hughes report that U.S. active o... Read more
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