Natural Gas Aug '18 (NGQ18)
Natural Gas Futures Market News and Commentary
July Nymex natural gas (NGN26) on Thursday rose +0.122 (+3.80%).
Nat-gas prices rallied sharply on Thursday due to a smaller-than-expected increase in weekly nat-gas storage. The EIA reported nat-gas inventories rose by +95 bcf in the week ended May 29, below expectations of +99 bcf and the five-year average for the week of +101 bcf.
Gains in nat-gas prices accelerated on Thursday amid forecasts of hotter US weather, potentially boosting nat-gas demand from electricity providers to meet the expected increase in air-conditioning use. The Commodity Weather Group on Thursday said that US weather forecasts shifted hotter, with above-average temperatures expected across the Midwest and Northeast through June 13.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) d... Read more
Barchart · Thu Jun 4, 2:18PM CDT
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Barchart · Thu Jun 4, 2:16PM CDT
July Nymex natural gas (NGN26 ) on Thursday rose +0.122 (+3.80%). Nat-gas prices rallied sharply on Thursday due to a smaller-than-expected increase in...
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