Natural Gas Jan '22 (NGF22)
Natural Gas Futures Market News and Commentary
August Nymex natural gas (NGQ26) on Wednesday closed down -0.053 (-1.62%).
Nat-gas prices on Wednesday fell from a 1.5-week high and settled lower on the outlook for a larger-than-normal increase in weekly US domestic stockpiles, which are already above the five-year average. The consensus is that Thursday’s weekly EIA nat-gas inventories will increase by +61 bcf for the week ended July 3, above the five-year average for the week at +51 bcf.Â
Nat-gas prices on Wednesday initially moved higher amid carryover support from a rally in European nat-gas prices to a 3.5-week high after President Trump said the ceasefire with Iran is over, raising the prospect of renewed hostilities in the region that could disrupt energy supplies. If European countries are unable to secure LNG supplies due to attacks on shipping in the Persian Gulf, they may seek additional US supplies, lowering US storage levels. Europe’s restocking season is underway, but its storage facilities are only ab... Read more
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