Natural Gas Dec '18 (NGZ18)
Natural Gas Futures Market News and Commentary
June Nymex natural gas (NGM26) on Tuesday closed up +0.090 (+2.98%).
Nat-gas prices on Tuesday added to Monday's gains, posting an 8-week nearest-future high.  Annual spring maintenance has curbed US nat-gas production and boosted prices.  However, gains were limited as the annual maintenance has also reduced US nat-gas exports to a  4-month low, boosting domestic supplies. Â
Gains in nat-gas prices were also reduced by the outlook for cooler US temperatures, which may curb nat-gas demand to power increased air-conditioning usage. Â The Commodity Weather Group said Tuesday that forecasts shifted cooler, with mostly normal seasonal weather expected across the US from May 24-28. Â Â
The outlook for the Strait of Hormuz to remain closed for the foreseeable future is supportive for nat-gas as the closure will curb Middle Eastern nat-gas supplies, potentially boosting US nat-gas exports to make up for the shortfall. Â
Projections for higher US nat-gas production a... Read more
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