Natural Gas Aug '30 (NGQ30)
Natural Gas Futures Market News and Commentary
July Nymex natural gas (NGN26) on Tuesday fell -0.012 (-0.38%).
Nat-gas prices settled lower on Tuesday for a second session, as US LNG export volumes fell due to seasonal maintenance, boosting US domestic nat-gas supplies. Flows to US LNG export terminals on Tuesday fell to 16.9 bcf, the lowest in two weeks.Â
Losses in nat-gas prices are limited amid forecasts of hotter US weather, potentially boosting nat-gas demand from electricity providers to meet the expected increase in air-conditioning use. Â The Commodity Weather Group on Tuesday said that above-average temperatures are expected across the Midwest and interior West through June 11.Â
The outlook for the Strait of Hormuz to remain closed for the foreseeable future is supportive of nat-gas prices, as the closure has curbed Middle Eastern nat-gas exports, potentially boosting US nat-gas exports to offset the shortfall.Â
US (lower-48) dry gas production on Tuesday was 109.1 bcf/day (+1.9% y/y), according... Read more
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