Natural Gas Oct '17 (NGV17)
Natural Gas Futures Market News and Commentary
June Nymex natural gas (NGM26) on Friday closed down -0.111 (-3.68%).
Nat-gas prices on Friday tumbled to a 1-week low and settled sharply lower. Â Forecasts for cooler US weather, which will reduce air-conditioning usage and demand for nat-gas, hammered prices on Friday. Â The Commodity Weather Group said Friday that forecasts shifted cooler, with mostly seasonally normal temperatures expected across the US through May 31. Â a
Projections for higher US nat-gas production are negative for prices. Â Last Tuesday, the EIA raised its forecast for 2026 US dry nat-gas production to 110.61 bcf/day from an April estimate of 109.60 bcf/day. Â US nat-gas production is currently near a record high, with active US nat-gas rigs posting a 2.5-year high in late February.
On April 17, nat-gas prices tumbled to a 1.5-year nearest-futures low amid robust US gas storage. Â EIA nat-gas inventories as of May 8 were +6.5% above their 5-year seasonal average, signaling abundant US nat-gas sup... Read more
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