Natural Gas Jan '20 (NGF20)
Natural Gas Futures Market News and Commentary
August Nymex natural gas (NGQ26) on Monday closed down -0.043 (-1.46%).
Nat-gas prices tumbled to a 2-month low on Monday and settled sharply lower.  Signs of stronger US nat-gas output and smaller exports are weighing on prices. Nat-gas production in the Permian Basin rose to more than 23 bcf per day over the weekend, the most in 2 months.  Also, gas flows to LNG export terminals in the US fell to 17.5 bcf on Monday, the smallest amount in a month, boosting domestic supplies as less LNG is exported.
Losses in nat-gas prices were limited on Monday amid forecasts of hotter US weather, which could boost nat-gas demand from electricity suppliers to power increased air-conditioning use. The Commodity Weather Group on Monday said forecasts shifted hotter, with above-average temperatures expected across the northern US through July 17.
A bearish factor for nat-gas prices in the medium term is speculation that a powerful El Niño weather system will bring warmer-than-nor... Read more
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