Natural Gas Dec '22 (NGZ22)
Natural Gas Futures Market News and Commentary
September Nymex natural gas (NGU26) on Friday closed down -0.011 (-0.40%).
Nat-gas prices posted modest losses on Friday amid signs of adequate US supplies. As of July 24, EIA nat-gas inventories were +6.4% above their 5-year seasonal average, signaling abundant supplies.
Losses in nat-gas prices were limited on Friday amid forecasts for hotter US weather, potentially boosting 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-normal temperatures expected in the western half of the US through August 14.
Nat-gas prices tumbled to a 3-month nearest-futures (Q26) low on Wednesday as recent below-normal US temperatures have reduced air-conditioning demand and allowed nat-gas inventories to be rebuilt.
A bearish factor for nat-gas prices in the medium term is speculation that a powerful El Niño weather system will bring warmer-tha... Read more
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