Natural Gas Dec '19 (NGZ19)
Natural Gas Futures Market News and Commentary
September Nymex natural gas (NGU26) on Monday closed up +0.009 (+0.32%).
Nat-gas prices settled higher on Monday amid forecasts for record-high temperatures in West Texas this week to support nat-gas demand. The largest Texas electric grid, the Electric Reliability Council of Texas, forecast that peak power demand this week could exceed the all-time record set in July.
Nat-gas prices fell from their best level on Monday after updated US weather forecasts reduced the chances of extreme heat in the US South and West, potentially reducing nat-gas demand from electricity providers to power air conditioning use. The Commodity Weather Group said on Monday that forecasts shifted slightly cooler than previous forecasts, although above-average temperatures are still expected across Texas and the Southwest through September 7.
US (lower-48) dry gas production on Monday was 112.0 bcf/day (+2.3% y/y), according to BNEF. Lower-48 state gas demand on Monday was 77.7 bcf/day... Read more
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