Natural Gas Nov '21 (NGX21)
Natural Gas Futures Market News and Commentary
September Nymex natural gas (NGU26) closed up +0.022 (+0.83%) on Friday.
Nat-gas prices settled higher on Friday as stronger US nat-gas exports draw domestic supplies down. Estimated LNG net flows to US LNG export terminals on Friday were 18.6 bcf/day, the most in 4 weeks.
Forecasts for warmer US weather are also supportive of nat-gas prices, as hotter temperatures could boost nat-gas demand from electricity providers to power an expected increase in air conditioning use. The Commodity Weather Group said on Friday that forecasts shifted warmer, with above-average temperatures expected across the Northeast and western US through August 12.
On Thursday, nat-gas prices tumbled to a 3.25-month nearest-futures low on a larger-than-expected storage build that pushed nat-gas inventories +6.7% above their 5-year seasonal average, a sign of robust supplies.
Nat-gas prices also have some negative carryover from Tuesday when Energy Transfer announced that the Hugh Bri... Read more
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