Natural Gas Futures Market News and Commentary
Oct Nymex natural gas (NGV20) on Friday closed down -0.109 (-4.85%).
Oct nat-gas prices on Friday retreated as they fell back from Thursday's 1-week high. A mixed weather outlook prompted long liquidation in nat-gas futures on Friday. The Commodity Weather Group sees colder-than-normal temperatures for the eastern half of the U.S. during Sep 30-Oct 4, although the European weather model sees a weaker cold front in the eastern U.S. than initially projected. Maxar, on Wednesday, said that widespread cold is poised to sweep the eastern half of the U.S. during Sep 28-Oct 7.
Increased export demand for U.S. nat-gas supplies is a supportive factor for prices as gas flows to U.S LNG export terminals on Friday were at 6.46 bcf, up +5.9% from Thursday.
Nat-gas prices tumbled to a 1-3/4 month low Monday on demand concerns. Industrial nat-gas demand remains tepid as BNEF data shows gas demand from power generators was estimated at just under 30 bcf for Monday, the lowest f... Read more