Natural Gas Jul '27 (NGN27)
Natural Gas Futures Market News and Commentary
August Nymex natural gas (NGQ26) on Wednesday closed up +0.063 (+2.37%).
Nat-gas prices rebounded from a 3-month nearest-futures low and settled higher amid fund short covering as Wednesday was the last trading day for the August Nymex natural gas futures contract. Prices have been under pressure over the past week as weather models shifted to show a cooler Midwest and East Coast in the near term, reducing the need for air conditioning. The Commodity Weather Group said on Wednesday that forecasts call for normal to below-normal temperatures across the central and eastern US through August 7.
Also weighing on nat-gas prices on Wednesday is the outlook for a larger-than-normal build in US gas storage. The consensus is that Thursday's weekly EIA nat-gas inventories will increase by +37 bcf for the week ended July 24, above the five-year average for the week of +26 bcf.  Â
A bearish factor for nat-gas prices in the medium term is speculation that a powerful El Niño... Read more
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