Natural Gas Jan '13 (NGF13)
Natural Gas Futures Market News and Commentary
June Nymex natural gas (NGM26) on Tuesday closed down -0.067 (-2.30%).
Nat-gas prices fell from a 6-week nearest-futures high on Tuesday and settled lower after the EIA raised its US 2026 nat-gas production estimate. Nat-gas prices initially moved up to a 6-week high on Tuesday amid forecasts for hotter US weather, which could potentially spark nat-gas demand from electricity providers to power increased air-conditioning usage. The Commodity Weather Group said Tuesday that forecasts shifted warmer, with above-average temperatures expected across the western half of the US through May 16.
Projections for higher US nat-gas production are negative for prices. On Tuesday, the EIA raised its forecast for 2026 US dry nat-gas production to 110.61 bcf/day from an April estimate of 109.60 bcf/day. US nat-gas production is currently near a record high, with active US nat-gas rigs posting a 2.5-year high in late February.
On April 17, nat-gas prices tumbled to a 1.5-year... Read more
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