Natural Gas Futures Market News and Commentary
October Nymex natural gas (NGV21) on Wednesday closed unchanged.
Oct nat-gas on Wednesday settled unchanged as prices consolidated above Tuesday's 2-week low. Nat-gas prices gave up early gains Wednesday after a midday update to the Global Forecast System weather model shifted cooler in the Northwest and Plains from Sep 27-Oct 1. A mixed weather picture in the U.S. is undercutting nat-gas prices. The Commodity Weather Group on Wednesday said that above-normal temperatures are expected throughout the Central U.S. from Sep 21-Oct 1, but normal to below-normal temperatures are expected on the East and West Coasts. Nat-gas prices have been under pressure this week on forecasts for mild U.S. weather, which would curb nat-gas demand from electricity providers to power air conditioning.
A supportive factor for nat-gas prices is concern that it may take longer for U.S nat-gas production to resume in the Gulf of Mexico after Royal Dutch Shell said that its nat-gas platforms i... Read more