Natural Gas Apr '23 (NGJ23)
Natural Gas Futures Market News and Commentary
June Nymex natural gas (NGM26) on Tuesday closed down -0.079 (-2.76%).
Nat-gas prices retreated on Tuesday as flows to US liquefied natural gas (LNG) export terminals fell to the lowest level in more than three months, leaving more supplies in the domestic market. Â According to BNEF data, LNG flows to US Gulf coast export terminals fell to 17.7 bcf on Tuesday, the lowest since late January due to seasonal maintenance. Â The larger domestic nat-gas supplies could boost US storage levels that are already +7.7% above their five-year average as of April 24.
On Monday, nat-gas prices rallied to a 4-week nearest-futures high on the outlook for below-normal US temperatures in the near term, which could potentially boost nat-gas heating demand. Â Below-average temperatures are expected across much of the US Midwest through May 9, according to the Commodity Weather Group.
The outlook for the Strait of Hormuz to remain closed for the foreseeable future is supportive for nat-ga... Read more
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June Nymex natural gas (NGM26 ) on Tuesday closed down -0.079 (-2.76%). Nat-gas prices retreated on Tuesday as flows to US liquefied natural gas (LNG)...
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