Natural Gas Mar '23 (NGH23)
Natural Gas Futures Market News and Commentary
July Nymex natural gas (NGN26) on Friday fell -0.107 (-3.21%).
Nat-gas prices retreated on Friday amid abundant US stockpiles and reduced flows to export terminals, which will further boost US domestic supplies. As of May 29, nat-gas inventories were +5.7% above their 5-year seasonal average, signaling adequate nat-gas supplies. Also, net flows to US LNG export terminals on Friday were just above 17.0 bcf/day, near the lowest level in more than two weeks, which will boost domestic supplies further as seasonal maintenance continues to limit exports.
Forecasts for hot US weather are supportive of nat-gas prices, as warmer weather could boost nat-gas demand from electricity providers to meet the expected increase in air-conditioning use. The Commodity Weather Group on Friday said that US weather forecasts shifted hotter, with above-average temperatures expected across the Midwest and Northeast through June 14.Â
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