Natural Gas Futures Market News and Commentary
Aug Nymex natural gas (NGQ22) on Friday closed up +0.306 (+5.64%).
Nat-gas prices Friday closed sharply higher on the outlook for above-normal U.S. temperatures, which will boost nat-gas demand from electricity providers to power increased air-conditioning usage. Maxar Technologies on Friday said that hotter-than-normal temperatures are expected in the western and central U.S. and parts of the southeast from July 6-15.
Nat-gas prices Thursday plummeted to a 3-month low after a federal regulator said the Freeport LNG terminal, which has been shut since a June 8 explosion, can't restart without written permission from the Biden administration. That raises concern that the terminal may be closed even longer than the 90 days first projected.
Freeport LNG, on June 17, declared force majeure on its LNG shipments loading from its fire-damage export plant until the first week of September. The Freeport terminal on June 14 said that it is targeting 90 days for a partia... Read more