Natural Gas Futures Market News and Commentary
May Nymex natural gas (NGK21) on Monday closed up +0.035 (+1.39%).
May nat-gas prices on Monday posted moderate gains on forecasts for colder temperatures to move across the U.S. The Commodity Weather Group on Monday said that below-normal temperatures are expected from Texas to North Dakota and east to New York from April 17-21. The cooler temperatures should boost heating demand for nat-gas.
Strong foreign demand for U.S. nat-gas supplies is bullish for prices. Gas flows to U.S LNG export terminals on Monday rose +42% y/y to 11.6 bcf. On March 20, gas flows to U.S LNG export terminals climbed to a record 11.92 bcf (data from 2014) according to BNEF.
Weak domestic nat-gas demand is bearish for prices after nat-gas demand in the lower 48 U.S. states on Monday fell -4.2% y/y to 60.0 bcf.
An increase in U.S. electricity output is positive for nat-gas demand from utility providers after the Edison Electric Institute reported Wed... Read more