Natural Gas Aug '23 (NGQ23)
Natural Gas Futures Market News and Commentary
August Nymex natural gas (NGQ26) on Tuesday closed up +0.007 (+0.24%).
Nat-gas prices settled slightly higher on Tuesday as they consolidated above Monday’s 2-month low. The outlook for cooler US temperatures is weighing on prices, as the cooler weather could reduce nat-gas demand from electricity suppliers to power air-conditioning. The Commodity Weather Group on Tuesday said forecasts shifted cooler, with below-average temperatures expected in the Southwest through July 23.
A bearish factor for nat-gas prices in the medium term is speculation that a powerful El Niño weather system will bring warmer-than-normal temperatures to the Northern Hemisphere this fall and winter, reducing nat-gas heating demand.Â
US (lower-48) dry gas production on Tuesday was 112.1 bcf/day (+3.7% y/y), according to BNEF. Lower-48 state gas demand on Tuesday was 80.9 bcf/day (+1.9% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Tuesday were 17.8 bcf/day (... Read more
Barchart · Tue Jul 14, 2:20PM CDT
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Barchart · Tue Jul 14, 2:18PM CDT
August Nymex natural gas (NGQ26 ) on Tuesday closed up +0.007 (+0.24%). Nat-gas prices settled slightly higher on Tuesday as they consolidated above Monday’s...
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