Natural Gas Sep '32 (NGU32)
Natural Gas Futures Market News and Commentary
August Nymex natural gas (NGQ26) on Tuesday closed down -0.105 (-3.79%).
Nat-gas prices retreated for a fourth straight session on Tuesday and posted a 3-month nearest-futures low. Prices are under pressure as weather models shifted to show a cooler Midwest and East Coast in the near term, reducing the need for air conditioning. The Commodity Weather Group said on Tuesday that forecasts call for normal to below-normal temperatures across the central and eastern US through August 5. Â
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 112.3 bcf/day (+1.9% y/y), according to BNEF. Lower-48 state gas demand on Tuesday was 84.0 bcf/day (-2.8% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Tuesday were 18.1... Read more
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