Natural Gas Aug '20 (NGQ20)
Natural Gas Futures Market News and Commentary
August Nymex natural gas (NGQ26) on Friday closed up +0.053 (+1.85%).
Nat-gas prices settled higher on Friday, garnering carry-over support from a sharp rally in European nat-gas prices to a 3.75-month high. Prices rallied on concern that escalation of the US-Iran conflict will keep the Strait of Hormuz closed, curb nat-gas supplies to Europe, and potentially prompt European LNG customers to boost purchases of US nat-gas to make up for lost Middle Eastern supplies.Â
Gains in nat-gas prices were limited on Friday amid cooler US weather forecasts that could potentially curb nat-gas demand from electricity suppliers to power air-conditioning. The Commodity Weather Group on Friday said forecasts shifted cooler, with below-average temperatures expected in the Southwest and Mid-Atlantic through July 26.
On Thursday, nat-gas prices fell to a 2-month low after weekly nat-gas inventories rose more than expected.Â
A bearish factor for nat-gas prices in the medium ter... Read more
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