Natural Gas Jan '28 (NGF28)
Natural Gas Futures Market News and Commentary
June Nymex natural gas (NGM26) on Wednesday closed down -0.110 (-3.53%).
Nat-gas prices on Wednesday fell from an 8-week nearest-future high and settled sharply lower. Â Abundant US nat-gas supplies, along with expectations that storage levels will continue to build, pressured prices on Wednesday. Â The consensus is that Thursday's weekly EIA nat-gas inventories will increase by +98 bcf for the week ended May 15, above the five-year average for the week of +92 bcf. Â
Nat-gas prices initially moved higher on Wednesday amid an outlook for above-normal US temperatures, which may boost nat-gas demand to power increased air-conditioning use. Â The Commodity Weather Group said Wednesday that forecasts shifted warmer, with above-average temperatures expected across the Upper Midwest from May 25-29. Â Â
The outlook for the Strait of Hormuz to remain closed for the foreseeable future is supportive for nat-gas as the closure will curb Middle Eastern nat-gas supplies, potential... Read more
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