Natural Gas Sep '13 (NGU13)
Natural Gas Futures Market News and Commentary
August Nymex natural gas (NGQ26) on Monday closed down -0.051 (-1.75%).
Nat-gas prices retreated on Monday and are just above last Thursday’s 2-month low. Prices are under pressure amid concern that a tropical depression will become Tropical Storm Bertha and disrupt liquefied natural gas (LNG) export facilities on the US Gulf Coast over the next several days, leading to reduced nat-gas exports and larger domestic supplies.Â
Losses in nat-gas prices accelerated on Monday amid forecasts of cooler US weather that could curb nat-gas demand from electricity suppliers to power air-conditioning. The Commodity Weather Group on Monday said that weather forecasts shifted cooler, with below-average temperatures expected in the Northeast through July 24.
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 heatin... Read more
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