Natural Gas Jan '22 (NGF22)
Natural Gas Futures Market News and Commentary
September Nymex natural gas (NGU26) on Thursday closed up +0.036 (+1.32%).
Nat-gas prices settled higher on Thursday on a smaller-than-expected storage increase. Weekly EIA nat-gas inventories rose +28 bcf in the week ended July 24, below expectations of +37 bcf. Nat-gas prices extended their gains on forecasts for warmer US weather, potentially boosting nat-gas demand from electricity providers to power an expected increase in air conditioning use. The Commodity Weather Group said on Thursday that forecasts shifted warmer, with above-normal temperatures expected in the western half of the US through August 13.
Nat-gas prices tumbled to a 3-month nearest-futures (Q26) low on Wednesday as recent below-normal US temperatures have reduced air-conditioning demand and allowed nat-gas inventories to be rebuilt.
A bearish factor for nat-gas prices in the medium term is speculation that a powerful El Niño weather system will bring warmer-than-normal temperatures to the N... Read more
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