Natural Gas Oct '20 (NGV20)
Natural Gas Futures Market News and Commentary
Sep Nymex natural gas (NGU20) on Monday closed down -0.085 (-3.80%).
Sep nat-gas prices on Monday fell back on the outlook for hot weather in the U.S. to ease. Maxar said on Monday that extreme heat over much of the U.S. is expected to ease toward the end of the month. The Commodity Weather Group last Friday said temperatures would be above normal in Texas, the Midwest, and Northeast through August 21.
Temperatures during July were the hottest in 20 years, according to BNEF. Also, the U.S. Climate Prediction Center recently forecast warmer-than-normal temperatures across the U.S. from August to October.
Export demand for nat-gas has picked up and is supportive for prices as BNEF data shows scheduled nat-gas flows to LNG export plants were at 4.46 bcf/day today, the most in 6 weeks.
Another supportive factor for nat-gas prices is the outlook for LNG export cancellations to ease. Bloomberg data shows that about 20-30 cargoes of LNG cargoes scheduled for Sep... Read more
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